ナガホリ revised its consolidated ordinary profit forecast for the first half of the current fiscal year (April-September) down from ¥400 million to ¥220 million. It left its full-year forecast unchanged.
ナガホリ announced on 4 November that it had significantly revised down its consolidated ordinary profit forecast for the cumulative second quarter of the current fiscal year (April-September), from ¥400 million to ¥220 million. Ordinary profit was ¥380 million in the same period of the previous year. As a result, ordinary profit for the current fiscal year is expected to decline by approximately 42.1%.
At the same time, the company said it would leave its full-year ordinary profit forecast unchanged at ¥1 billion, with no significant change from the outlook presented at the beginning of the fiscal year. The revision was attributed to trends in gold bullion prices and sales of precious-metal products.
The company explained that the revision reflects a concentration of management resources on strengthening sales channels focused on affluent customers and launching new products, while a pause in precious-metal prices and high inflation continue to affect sales trends. Sales opportunities in the second half are expected to draw attention.