OHASHI TECHNICA announced its financial results and raised its ordinary profit forecast for the current fiscal year from its previous forecast. Ordinary profit for the cumulative second quarter came to ¥2.02 billion, and the full-year forecast was raised to ¥3.35 billion, with the earnings growth rate from the previous fiscal year expected to expand to approximately 12.9%.
OHASHI TECHNICA, listed on the TSE Prime Market, released its financial results after the market close on 11 November. Consolidated ordinary profit for the cumulative second quarter (April-September) rose 51.8% year on year to ¥2.02 billion. Sales were ¥20,336 million, operating profit was ¥879 million and net income was ¥758 million.
The company also raised its full-year ordinary profit forecast by 11.7%, from ¥3.0 billion to ¥3.35 billion. As a result, the projected earnings growth rate is expected to expand from 1.1% to 12.9%.
However, based on first-half results and the second-half plan, ordinary profit for October-March (the second half) is expected to decline 18.7% year on year to ¥1.33 billion.
Ordinary profit for the latest three-month period, July-September, rose 54.8% year on year to ¥990 million, while the operating margin on sales improved from 5.8% to 7.7%.