Furukawa Electric Co., Ltd. raised its consolidated net profit forecast for the six months ending September from ¥42.5 billion to ¥58.0 billion and simultaneously announced the sale of its UACJ shares. It also indicated that it expects to record a gain of approximately ¥22.0 billion on the sale of investment securities in the second quarter.
After the close of trading that day, Furukawa Electric Co., Ltd. raised its consolidated net profit forecast for the six months ending September from the previous ¥42.5 billion to ¥58.0 billion. The new forecast, approximately 4.5 times the figure for the same period of the previous year, was highlighted, along with an increase in revenue, indicating expectations for improved performance.
The company announced the sale of its UACJ shares. The sale had previously been scheduled for the third quarter or later, but was brought forward. As a result, the company is expected to record a gain on the sale of investment securities.
The increase in gains on the sale of investment securities during the period was cited as one factor behind the upward revision, with an explanation that the company expects to realize a gain of approximately ¥22.0 billion in the second quarter. The bringing forward of the sale was identified as one contributing factor.
The announcement was released after the close of trading, and additional information on future quarterly plans and the company’s asset management policy may attract attention.