Investment money flowed into 丸一鋼管, which announced an upward revision to its earnings forecast for the current fiscal year and a substantial dividend increase. The share price briefly rose more than 10%. In addition to demand for welded steel tubes, strong demand for stainless steel used in semiconductor manufacturing equipment and structural steel tubing for data centers is believed to be behind the move.
丸一鋼管 briefly rose 10.2% to ¥1,710 in afternoon trading, highlighting the move away from its lows.
After the close on the 9th, the company revised its earnings forecast for the fiscal year ending March 2027, raising its operating profit forecast substantially from ¥36.7 billion to ¥41.7 billion. The revised forecast is now expected to exceed the previous forecast.
Against the backdrop of strong earnings, the company also announced that it would strengthen shareholder returns by raising the annual dividend for the current fiscal year from ¥52 to ¥58. The dividend yield jumped to 3.7%.