FUJIMI INCORPORATED sharply reversed lower. Although it raised its first-half and full-year earnings and dividend forecasts, the view that the positive news had been fully priced in dominated. Sales of CMP products and products for silicon wafers appear to be increasing.
FUJIMI INCORPORATED's share price fell sharply. Although the company announced upward revisions to its earnings and dividend forecasts at the end of last week, selling dominated the market's response.
First-half operating profit was raised from the previous forecast of ¥7.45 billion to ¥9.05 billion, an increase of approximately 39.9% year on year. The full-year forecast was also raised from ¥14.5 billion to ¥17.3 billion, representing an increase of approximately 24.8% from the previous fiscal year.
Sales of CMP products and products for silicon wafers appear to be increasing, but the scale of the revision was within expectations given first-quarter results of ¥4.61 billion. Deteriorating market conditions for semiconductor-related stocks were also cited as a factor behind the view that the positive news had been fully priced in.
The annual dividend was raised from ¥77 to ¥92. These revisions were viewed as a factor weakening the share price response against a backdrop of the positive news having been fully priced in.