Nireco raised its ordinary profit forecast for the current fiscal year by 5% to ¥2.1 billion and is now expected to post a record profit for the first time in 2 fiscal years. While it left its first-half ordinary profit forecast unchanged, the high order backlog and improved productivity in its optics business were cited as the reasons for the revision.
After the close of trading on 29 September, Nireco announced that it had raised its consolidated ordinary profit forecast for the current fiscal year by 5.0%, from ¥2.0 billion to ¥2.1 billion. The increase in profit is now expected to reach approximately 17.1% year on year, with a record high profit forecast for the first time in 2 fiscal years. The full-year forecasts for net sales and net profit were also provided.
The first-half ordinary profit forecast was left unchanged at the previous estimate of ¥780 million. Under the new outlook for the current fiscal year, first-half profit is expected to be roughly in line with the previous fiscal year's result. The main reasons for the revision were the high current order backlog and the contribution to earnings from improved productivity in the optics business.
The high order backlog and improved productivity in the optics business were cited as factors behind the revision. In connection with the revision to the earnings forecast, a review of the dividend forecast is expected to be considered in line with the timing of the next earnings announcement. The date for disclosing the dividend forecast has not been set, and the company plans to announce it together with its results for the second quarter of the fiscal year ending March 2027, scheduled for 13 November.