Osaki Electric Industry downgraded its consolidated earnings forecast for the fiscal year ending March 2027 from ¥8.1 billion to ¥6.1 billion. It also established a share buyback authorization and announced the cancellation of 2.5 million treasury shares.
Osaki Electric Industry revised its earnings outlook for its smart-meter business and downgraded its consolidated operating profit forecast for the fiscal year ending March 2027 from ¥8.1 billion to ¥6.1 billion. The company said the revision reflects lower domestic and overseas revenue, deteriorating profitability on overseas projects and higher raw-material prices.
Operating profit for the cumulative second quarter announced the same day was ¥2.59 billion, up 37.8% year on year.
The company established an authorization to repurchase up to 2 million shares, equivalent to 4.61% of shares outstanding, for up to ¥3.0 billion, and disclosed plans to cancel 2.5 million treasury shares.
The share price closed at ¥1,111 on the 6th, down ¥114 from the previous day.