Kyokuto Boeki revised its ordinary profit forecast for the current period upward from the previous forecast and now expects profit to rise 14.2%. Combined with first-half results, it is expected to post a record profit for the first time in 27 periods.
Kyokuto Boeki released its financial results after the close of trading on 12 November. Consolidated ordinary profit for April-September 2024 was ¥1.8 billion, up 27.4% year on year. Net sales and other indicators were also released, showing improved first-half profitability.
The full-year ordinary profit forecast was revised upward from ¥2.55 billion to ¥3.25 billion, with profit expected to rise 14.2% year on year and reach a record high for the first time in 27 periods. The company is expected to exceed the ¥2.84 billion recorded in the previous period, according to the materials.
For the most recent 3 months, ordinary profit for July-September was ¥850 million, up 43.5% year on year, while the operating margin on sales improved from 3.4% to 4.5%. The medium-term earnings trend suggests improved capital efficiency as first-half results and the second-half plan are combined.
Ordinary profit for the consolidated second half is estimated at ¥1.44 billion, up 1.1% year on year. Based on first-half results and the second-half plan, full-year profit is expected to be raised substantially.