NKK SWITCHES revised its ordinary profit forecast for the current fiscal year upward to the previously forecast ¥440 million, indicating an 8.1% increase from the previous fiscal year. First-quarter ordinary profit for April-June expanded to ¥390 million.
NKK SWITCHES released its financial results on 6 August. Consolidated ordinary profit for the first quarter ended April-June surged 198-fold year on year to ¥390 million.
In a revision to its full-year earnings forecast announced the same day, the company raised its ordinary profit forecast from the previous ¥270 million to ¥440 million, indicating an 8.1% increase in profit. First-quarter net sales were ¥1,986 million, operating profit was ¥3 million, net income was ¥27 million, and revised earnings per share were ¥33.7.
The forecast revision for the current fiscal year was based on results for the most recent 3 months. The operating profit margin on sales for the April-June quarter improved to 12.8% from negative 3.0% in the same period of the previous fiscal year.
Market participants are expected to review the figures released together with the earnings summary PDF, and attention is likely to focus on future disclosures.