Ferrotec, Insource, Mitsui O.S.K. Lines and others were among the companies announcing earnings and earnings revisions after market close today, 2 November, and each raised its current fiscal-year ordinary profit forecast. Several stocks made their second or subsequent upward revisions.
Ferrotec raised its current fiscal-year ordinary profit forecast by 20.0% to ¥66 billion in earnings and earnings revisions announced after market close today, 2 November. The current fiscal-year outlook, based on an irregular nine-month accounting period, incorporates increased demand in the devices business, including thermomodules for optical transceivers used in AI data centers.
In a series of earnings surprises, several companies, including Wise HD and Insource, raised their current fiscal-year ordinary profit forecasts. Wise HD raised its previous forecast by 33.3%, indicating that it expects to set a new record high, and announced plans to conduct a share buyback. Insource expects current fiscal-year ordinary profit to rise 10%, marking a record high for the 7th consecutive fiscal year, and indicated plans to raise its dividend to ¥36.
Yuken Kogyo, Suzuden, Takano and Mitsui O.S.K. Lines also revised their current fiscal-year ordinary profit forecasts. Mitsui O.S.K. Lines raised its current fiscal-year ordinary profit forecast by 31.1%, incorporating a recovery in energy and market conditions and contributions from strong performance at equity-method affiliates.
As for upcoming events, some companies are scheduled to announce their earnings on 4 November, and earnings announcements are expected to continue during trading hours and after market close.