Kunimine Industries raised its first-half ordinary profit forecast and also increased its net profit forecast, indicating that profit is expected to reach a record high for the first time in five periods. The company also raised its full-year earnings forecast.
In the revised forecast for the current first half, ordinary profit was raised to ¥850 million, while operating profit is expected to reach ¥740 million and net profit ¥550 million. The revisions represent increases of approximately 30.8% for ordinary profit and 22.2% for net profit.
For the full fiscal year, the company left its sales forecast unchanged at ¥18,000 million, while raising its ordinary profit forecast to ¥2,200 million and its net profit forecast to ¥1,450 million. Following the revisions, forecast earnings per share is ¥119.06.
The revisions are expected to result in improved earnings for the current fiscal year compared with the previous fiscal year, with profit forecast to reach a record high for the first time in five periods.