Nanyo raised its first-half ordinary profit forecast after the market close on 19 October, and said it expects profit to increase 27.2% year on year and set a new first-half record for the first time in 2 fiscal years.
Nanyo raised its first-half cumulative ordinary profit forecast from the previous ¥1.25 billion to ¥1.65 billion. Ordinary profit was ¥1.29 billion in the same period of the previous year, putting the expected year-on-year increase at 27.2%, reversing the previous outlook.
The full-year ordinary profit forecast was left unchanged at the previously forecast ¥3.2 billion. The company cited higher utilization in its construction equipment rental business and solid industrial equipment sales. Concerns including higher crude oil and material prices due to the situation in the Middle East, unstable procurement of components, and labor shortages remain.
The revision to the first-half outlook also includes an upward revision to revenue. As a difference between the old and new plans, revenue was revised upward from ¥18.0 billion to ¥19.2 billion, while revised earnings per share are ¥99.8 and the revised dividend is ¥10.
The earnings forecast for the current fiscal year may be subject to further changes, and actual results may differ depending on future business conditions.