北陸電気工業 cut its full-year net profit forecast by 83%, from the previous forecast of ¥1.2 billion to ¥200 million, and indicated a policy of not paying an annual dividend for the current fiscal year. It announced the cumulative second-quarter results and its outlook at the same time.
北陸電気工業 announced its earnings on 10 November. Consolidated net profit for the cumulative second quarter (April–September) was ¥120 million, down 88.1% year on year.
The full-year net profit forecast was revised downward by 83.3%, from the previous forecast of ¥1.2 billion to ¥200 million, with the decline rate expected to widen from 39.6% to 89.9%.
At the same time, consolidated net profit for the second half, based on first-half results and the current fiscal-year plan, is expected to fall 92.0% year on year to ¥70 million.
In connection with the tender offer, the company indicated a policy of not paying the ¥95 annual dividend previously planned for the current fiscal year.