田岡化学工業 announced that it had raised its current fiscal-year ordinary profit forecast by 57.1%, from the previous forecast of ¥350 million to ¥550 million. Although first-half results showed a substantial decline in profit, the second-half plan points to a recovery.
田岡化学工業 released its earnings summary and raised its current fiscal-year ordinary profit forecast from ¥350 million to ¥550 million. The decline in profit is expected to narrow year on year, while net profit is expected to continue declining from the previous fiscal year under the revised forecast.
In the latest second-quarter results for July-September, ordinary profit fell approximately 67.5% year on year to ¥220 million, revenue was ¥15,062 million, and the operating margin on sales deteriorated from 7.3% to 2.6%. As a result, performance during the fiscal year has remained at a challenging level.
For the second-half outlook, ordinary profit for October-March is estimated at ¥150 million, representing a substantial year-on-year decline. The new full-year forecast is ¥550 million, while revised EPS is expected to be ¥20.9.