Kawasaki Kisen rebounded sharply and raised its first-half ordinary profit forecast from the previous ¥80.0 billion to ¥118.0 billion, and its full-year profit forecast from ¥135.0 billion to ¥190.0 billion.
Kawasaki Kisen rebounded sharply. The company announced an upward revision to its earnings forecast at the end of last week, prompting temporary buying in the stock.
First-half ordinary profit was raised from the previous forecast of ¥80.0 billion to ¥118.0 billion, representing an increase of approximately 97.8% year on year. The full-year ordinary profit forecast was also revised upward to ¥190.0 billion, which is expected to be approximately 74.2% higher than the previous fiscal year's result.
The revision appears to reflect firm market conditions in the dry bulk business, as well as freight market conditions in the containership business exceeding expectations.
The revision was driven by market trends and improved freight market conditions, with the upward earnings revision reflected in the share price.