Furukawa raised its earnings forecast for the fiscal year ending March 2027, and its share price rose sharply for a second straight session. Factors cited included improved first-quarter ordinary profit, gains from price differentials resulting from higher copper prices, and gains on the sale of the former Australian smelter site.
Furukawa raised its full-year earnings forecast for the fiscal year ending March 2027 from the previous ¥8.7 billion to ¥9.7 billion. Its share price consequently rose sharply during the session.
First-quarter ordinary profit was ¥4.614 billion, up approximately 17.9% year on year. Full-year net income is expected to be revised upward from the previous outlook to ¥14.5 billion.
The Metals segment is expected to record gains from price differentials resulting from higher copper prices, with both revenue and profit forecast to exceed the previous outlook. The Electronics, Chemicals and Real Estate segments are likewise expected to outperform.
Following the completion of the transfer of the former Australian smelter site, a gain of approximately ¥6 billion on the sale of fixed assets is expected to be recorded as extraordinary income. Gains on the sale of investment securities from the partial sale of cross-shareholdings are also expected to be recorded.