Chiyoda Corporation revised its ordinary profit forecast for the current fiscal year upward from the previous forecast of ¥14.0 billion to ¥32.0 billion, or 2.3 times the previous forecast. The upward revision reflects progress on multiple projects in Japan and overseas, as well as additional revenue recorded from overseas projects.
Chiyoda Corporation announced on 4 November that it had revised its consolidated ordinary profit forecast for the current fiscal year upward from the previous forecast of ¥14.0 billion to ¥32.0 billion. The company indicated that the revision was based on a significant improvement in its outlook for the second half, resulting in a substantial increase in its full-year plan.
Cumulative results for the second quarter, covering April to September, were ¥19.5 billion, down 0.4% year on year. However, ordinary profit for the most recent three-month period, the July-September quarter, rose year on year to ¥13.2 billion, while the operating margin on sales increased.
For the outlook ahead, sales, ordinary profit and net profit for the second half are all expected to exceed the previous forecasts, and the full-year earnings forecast for the fiscal year ending March 2027 has been revised upward. Progress on existing projects and contributions from overseas projects are cited as the main factors.