Nippon Soda revised its consolidated ordinary income forecast for the current fiscal year upward to ¥21.7 billion and raised its dividend to ¥170. Second-quarter ordinary income was ¥5.39 billion, up 3.5% year on year, while the operating margin on sales also improved.
Nippon Soda announced its results after the close on 12 November and revised its consolidated ordinary income forecast for the current fiscal year upward from the previous forecast of ¥19 billion to ¥21.7 billion. Profit is expected to decline year on year, but ordinary income through the second quarter was ¥10.9 billion, marking a return to year-on-year growth of 12.7%.
The full-year earnings outlook was also raised, with ordinary income set at ¥21.7 billion and the rate of decline expected to narrow year on year. Ordinary income in the October-March second half is estimated at approximately ¥10.7 billion, which is expected to decline 19.1% year on year.
The year-end dividend forecast was revised upward from the previous plan of ¥160 to ¥170, increasing the annual dividend. Ordinary income for the latest three-month period, July-September, was ¥5.39 billion, and the operating margin on sales improved to 11.5%.