北川鉄工所 announced an upward earnings revision and a substantial dividend increase. First-half operating profit was raised significantly, while the annual dividend was also increased substantially, resulting in buy orders at the daily price limit for the stock.
北川鉄工所 is currently attracting buy orders at the daily price limit. The move follows the announcement late last week of an upward revision to its earnings forecast and an increased dividend.
First-half operating profit was raised from the previous forecast of ¥1.5 billion to ¥2.6 billion, while full-year operating profit was increased from ¥3.0 billion to ¥4.5 billion. A substantial year-on-year increase is now expected.
The factors supporting the earnings increase include the recognition of revenue from material-handling machinery that had been postponed, as well as revenue from a large-scale multistory parking facility project that had not been included in the forecast.
The company also announced that it would raise its annual dividend from the previous plan of ¥64 to ¥110 per share.