オークワ revised its full-year consolidated net profit forecast downward after the market close on 25 September, from the previous forecast of ¥650 million to ¥50 million, resulting in an expected 81% decline. Its first-half consolidated bottom line was also revised from a profit to a loss.
オークワ announced an earnings revision after the market close on 25 September, sharply cutting its full-year consolidated net profit forecast from ¥650 million to ¥50 million. The company reported a profit of ¥264 million in the previous fiscal year.
The revision was mainly attributable to the supermarket business. The company explained that soaring prices and consumers’ preference for saving limited the increase in customer numbers and items purchased per customer.
Following the above revision, the first-half forecast was also changed from a profit to a loss, and the company concluded that achieving its full-year forecast would be difficult. Although it expects some improvement from measures to be implemented after the first half, the effects of the revision to second-half sales and of raw material and labor costs are expected to continue.