岡谷鋼機 raised its full-year ordinary profit forecast and expects a record high, while also increasing its dividend by approximately 5% on an effective basis. Ordinary profit increased year on year in the latest second quarter, but is expected to decline in the second-half outlook.
岡谷鋼機 announced its results on 30 September, reporting cumulative second-quarter ordinary profit of ¥27.2 billion for March-August, up 11.7% year on year. It also raised its full-year ordinary profit forecast by 13.8%, from the previous ¥40.0 billion to ¥45.5 billion, and expects a 0.03% increase in profit. This is expected to mark the sixth consecutive year of record-high profit.
For the second-half outlook, the company estimates consolidated ordinary profit of ¥18.2 billion for the September-February period, down 13.5% year on year. This figure was calculated by the company based on its first-half results and second-half forecast.
The annual dividend for the current fiscal year was changed from ¥86 to ¥90. Taking into account the 1-to-2 stock split in 2026, this represents an effective increase of 4.7%. The company appears to have revised its dividend plan based on its results to date.
For the latest three-month period, ordinary profit for June-August was ¥13.9 billion, up 4.9% year on year, while the operating margin on sales declined from 3.9% to 3.6%, remaining broadly flat.