Nisshin Tool revised its ordinary profit and net profit forecasts for the current fiscal year substantially upward, forecasting net sales of ¥1.11 trillion and net profit of ¥123 billion.
Nisshin Tool’s cumulative results for the second quarter were net sales of ¥566 billion, operating profit of ¥134.8 billion, ordinary profit of ¥140.5 billion and net profit of ¥101.2 billion, with adjusted earnings per share of ¥43.06, representing substantial year-on-year profit growth. The progress rate was reported at 76.8%.
Compared with the previous forecast, first-half results were net sales of ¥542 billion versus ¥566 billion, operating profit of around ¥990 versus ¥134.8 billion, ordinary profit of around ¥1,010 versus ¥140.5 billion, and net profit of around ¥650 versus ¥101.2 billion, resulting in upward revisions for the current fiscal year.
The revised full-year forecast has been substantially adjusted from the previous forecast: net sales from ¥1,057 billion to ¥1.11 trillion, operating profit from ¥117 billion to ¥175 billion, ordinary profit from ¥118 billion to ¥183 billion, net profit from ¥78 billion to ¥123 billion, and earnings per share from ¥33.13 to ¥52.25.
Compared with first-half results, the second-half forecast is expected to be revised as follows: net sales from ¥490.3 billion to ¥544 billion, operating profit from ¥119.8 billion to ¥40.2 billion, ordinary profit from ¥122.8 billion to ¥42.5 billion, and net profit from ¥89.9 billion to ¥21.8 billion. The forecast for the dividend per share is also expected to be revised from ¥15 to ¥30.