Keihin cut its ordinary profit forecast for the current fiscal year by 11.1%, while second-quarter profit fell 25.1% year on year to ¥1.5 billion. It also lowered its full-year forecast to ¥3.2 billion, with the plan for the second half expected to be broadly flat.
According to results announced during the afternoon session on 5 November, Keihin’s consolidated ordinary profit for the six months ended September, the second quarter cumulative period (April-September), fell 25.1% year on year to ¥1.5 billion, below the previous forecast of ¥1.88 billion.
The full-year ordinary profit forecast was revised downward by 11.1% from the previous ¥3.6 billion to ¥3.2 billion, with the expected rate of decline projected to widen further from the previous fiscal year’s level.
Ordinary profit for the most recent three-month period, July-September, fell 34.8% year on year to ¥600 million, while the operating profit margin on sales deteriorated from 7.0% to 5.1%.
For the second-half outlook, consolidated ordinary profit for the October-March period is estimated at ¥1.69 billion, down 0.1% year on year and broadly flat.