Kurita Water Industries revised its IFRS-based first-half net income forecast downward from ¥24.6 billion to ¥7.3 billion, resulting in a forecast 57.5% decline in net income. Full-year net income was also revised downward to ¥28.7 billion, and the growth rate is reported to have narrowed.
According to the earnings revision released after the market close on 29 October, Kurita Water Industries lowered its first-half and full-year outlooks.
Consolidated net income for the first half, covering April to September, was revised from the previous forecast of ¥24.6 billion to ¥7.3 billion. This is expected to represent a substantial decrease from ¥17.1 billion in the same period of the previous year.
Consolidated full-year net income was also revised downward from the previous forecast of ¥50.7 billion to ¥28.7 billion, and the growth rate is expected to narrow substantially from the ¥15.9 billion recorded in the previous fiscal year.