ONOKEN cut its ordinary profit forecast for the current fiscal year from the previous estimate of ¥6.2 billion to ¥4.6 billion. It announced that ordinary profit for the cumulative second quarter rose to ¥2.06 billion, while ordinary profit for the second half is expected to decline to ¥2.53 billion.
ONOKEN released its earnings for the fiscal year ending March 2027 in the afternoon session on 11 November. Consolidated ordinary profit for the cumulative second quarter was ¥2.06 billion, up 4.2% year on year.
However, the full-year forecast was cut from the previous estimate of ¥6.2 billion to ¥4.6 billion. Ordinary profit for the previous fiscal year was ¥4.71 billion, meaning the revised forecast calls for a 2.4% decline year on year.
For the second half, an improvement in steel market conditions is difficult to anticipate. Against a backdrop of higher construction material costs and delays in construction progress, ordinary profit for the second half is calculated at ¥2.53 billion, down 7.1% year on year.
Ordinary profit for July-September was ¥670 million, down 7.9% year on year. However, revenue was unchanged from the previous fiscal year, and the operating profit margin on sales was 1.2%, remaining almost flat.