On 5 November, Noritake raised its current-year ordinary profit forecast from the previous projection and increased its record-profit forecast. Second-quarter results showed a substantial increase in profit, and the full-year plan was recalculated.
Noritake’s consolidated ordinary profit for the cumulative second quarter of the fiscal year ending November 2024 was ¥10.0 billion, up 50.1% year on year. Improved revenue and operating profit enabled ordinary profit to exceed the previous forecast of ¥8.0 billion.
At the same time, the full-year ordinary profit forecast was raised 9.1% from ¥16.5 billion to ¥18.0 billion, increasing the projected profit growth rate to approximately 18.5%. The company consequently added to its previous forecast for a record profit for the second consecutive fiscal year.
Ordinary profit for the most recent three-month period, July-September, was ¥4.59 billion, up 37.1% year on year, while the operating margin improved from 7.3% to 9.7%. Based on the full-year plan, ordinary profit for the second half is estimated to fall 6.2% year on year to ¥7.99 billion.