Oriental Shiraishi announced its earnings for the first half during afternoon trading on 9 November. Ordinary income fell sharply year on year, and progress against the full-year forecast was low, but a recovery is expected in the second half. The company also revised its full-year dividend forecast up by ¥1.5.
Oriental Shiraishi announced its earnings during afternoon trading on 9 November. First-half consolidated ordinary income fell 51.6% year on year to ¥1.85 billion, with progress against the full-year forecast at just 41.3%, below the five-year average of 52.4%.
Based on the first-half results announced by the company, its outlook for the second half implies consolidated ordinary income of ¥2.64 billion for the October-March period, representing an expected increase of 55.7% year on year.
The full-year dividend forecast was also revised up from the previous forecast of ¥14.5 to ¥16.
Consolidated ordinary income for the July-September quarter, the latest three-month period, fell 25.5% year on year to ¥1.3 billion, while the operating profit margin on sales deteriorated from 10.0% in the same period a year earlier to 7.2%.