Revised forecast
Fiscal year ending March 2027 · Six months ending June 2026, full yearPrevious forecast published Announced 12 May 2026The bar length represents the relative magnitude of change, based on the item that changed the most in this document. The percentage change shown by the dotted line is calculated from the two reported figures because the company did not provide the rate.
Uncertainty remains high due to the stagnation of the Chinese real estate market, movements in the financial and capital markets, U.S. tariff measures, the escalating situation in Ukraine and turmoil in the Middle East. Selling prices for ferronickel products are expected to remain under some pressure, while nickel ore, fuel and raw material, and electricity prices are expected to remain high. Further inventory write-downs are expected to be recorded in the first half, while a reversal resulting from a reduction in the write-down is expected in the second half.
Loss on disposal of fixed assets: ¥7 million (cumulative first quarter of the current consolidated fiscal year)
| Item | Details |
|---|---|
| Net Sales | Cumulative second-quarter results 4,902 / Full year 10,484 → Cumulative second-quarter results 5,356 / Full year 10,618（Cumulative second-quarter results 9.3 / Full year 1.3） |
| Operating profit | Cumulative second-quarter results -4,168 / Full year -6,006 → Cumulative second-quarter results -3,983 / Full year -6,185 |
| Ordinary income | Cumulative second-quarter results -891 / Full year 704 → Cumulative second-quarter results -754 / Full year 698（Cumulative second-quarter results Not disclosed / Full year -0.9） |
| Profit attributable to owners of the parent | Cumulative second-quarter results -1,134 / Full year 158 → Cumulative second-quarter results -958 / Full year 134（Cumulative second-quarter results Not disclosed / Full year -15.2） |
| Net income per share | Cumulative second-quarter results -65.22 / Full year 9.09 → Cumulative second-quarter results -55.1 / Full year 7.71 |
| Fiscal Period Covered | Fiscal year ending March 2027 |
| Period Covered | Six months ending June 2026, full year |
| Publication date of previous forecast | Announced 12 May 2026 |
| Previous-period results | Cumulative second-quarter results Net Sales 4,463 / Operating profit −¥4,042 million (operating loss) / Ordinary income −¥1,086 million (ordinary loss) / Interim net income attributable to owners of the parent −¥1,095 million (interim net loss attributable to owners of the parent) / Interim net income per share −¥59.91 / Full year Net Sales 9,414 / Operating profit −¥4,971 million (operating loss) / Ordinary income 3,323 / Profit attributable to owners of the parent 2,610 / Net income per share ¥146.04 |
| Reason for the revision | Uncertainty remains high due to the stagnation of the Chinese real estate market, movements in the financial and capital markets, U.S. tariff measures, the escalating situation in Ukraine and turmoil in the Middle East. Selling prices for ferronickel products are expected to remain under some pressure, while nickel ore, fuel and raw material, and electricity prices are expected to remain high. Further inventory write-downs are expected to be recorded in the first half, while a reversal resulting from a reduction in the write-down is expected in the second half. |
| Details and amount of extraordinary loss | Loss on disposal of fixed assets: ¥7 million (cumulative first quarter of the current consolidated fiscal year) |
| Dividend forecast revision | No change (whether the dividend forecast has been revised from the most recently announced forecast: No) |
| Consolidated / non-consolidated | Consolidated |
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The company cited the stagnation of the Chinese real estate market, movements in the financial and capital markets, U.S. tariff measures, and uncertainty arising from the situations in Ukraine and the Middle East. It also expects selling prices for ferronickel products to remain under some pressure, while nickel ore, fuel and raw material, and electricity prices are expected to remain high. In addition, further inventory write-downs are expected to be recorded in the first half, while a reversal resulting from a reduction in the write-down is expected in the second half, resulting in different earnings trends between the first and second halves.