モリテック スチール announced revisions to its first-half and full-year earnings forecasts after the market close on 25 September. First-half net profit has been revised upward to 2.5 times the previous forecast, to ¥840 million, and is expected to reach a record high for the first time in 9 periods.
モリテック スチール sharply revised its forecast for consolidated net profit for the six months ended September (April–September) upward, from ¥330 million to ¥840 million, indicating a substantial increase from ¥120 million in the same period of the previous year. This increased the likelihood that first-half profit would reach a record high.
The full-year consolidated net profit forecast was also revised upward, from ¥500 million to ¥1,010 million, with the decline expected to narrow. Although the revised figure remains below the ¥1,042 million recorded in the previous year, the company now expects profit to return to growth.
The stated reason for the revision is the expected recording of extraordinary income from gains on the sale of investment securities in net profit attributable to owners of the parent. The company explained that this is expected to result in performance exceeding its previously announced forecasts.
The earnings forecasts for the current fiscal year disclose figures both for the revision to the current first half and for the forecast for the next fiscal year. Sales are expected to remain largely unchanged, while the scale of the revision to net profit is substantial.