ノーリツ鋼機 released its IFRS results. The full-year consolidated net income forecast was revised upward by 6.0% from the previous forecast, and the full-year dividend was increased by ¥9. Third-quarter profit declined significantly year on year.
ノーリツ鋼機 announced consolidated net income of ¥15.1 billion for the cumulative third quarter (1-9 months) of the current fiscal year, up 13.4% year on year. Meanwhile, sales and profit margins continue to be viewed cautiously. The current figures are disclosed on an IFRS basis.
The full-year consolidated net income forecast was revised upward from the previous forecast of ¥16.8 billion to ¥17.8 billion, with the growth rate expected to expand from 7.4% to 13.8%. The full-year earnings plan has also been revised accordingly.
For the outlook for the second half, consolidated net income for the 7-12 month period is expected to be increased from the previous forecast of ¥4.39 billion to ¥5.39 billion. This represents a significant improvement year on year, although the rate of decline may narrow from the previous fiscal year.
The company also announced that its annual dividend for the current fiscal year would be increased from ¥75 to ¥84. The revision to the earnings outlook for the 7-12 month period will also result in a higher full-year earnings forecast.