日本山村硝子 announced its earnings after the market close on 10 August. It raised its first-half ordinary profit forecast by 50%, from the previous forecast of ¥1.2 billion to ¥1.8 billion, and increased its full-year forecast from ¥2.2 billion to ¥2.8 billion. It also disclosed quarterly results and the background to the revisions.
日本山村硝子 reported results for the first quarter of the current fiscal year (April–June), with revenue of ¥19.015 billion, operating profit of ¥1.446 billion, ordinary profit of ¥1.672 billion and net income of ¥1.369 billion. Revised net income per share was ¥134.2, and the progress rate against the first-half forecast was 61.5%, as shown in the announcement dated. According to the earnings summary, the 1Q operating margin declined from 8.0% in the same period of the previous year to 6.6%. The body lists the period classifications and figures for this fiscal year.
For the first half, ordinary profit for April–September is expected to be revised upward by 50%, from the previous forecast of ¥1.2 billion to ¥1.8 billion. This is expected to substantially reduce the extent of the decline from ¥3.05 billion in the same period of the previous year. As a result, the first-half progress rate against the revised forecast is expected to improve to an appropriate level.
The full-year forecast was also revised upward, from ¥2.2 billion to ¥2.8 billion. Although this represents an increase from ¥4.38 billion in the previous fiscal year, the projected decline is expected to narrow from 49.9% to 36.2%. Accordingly, the forecasts for full-year net income and revised earnings per share have also been raised.
For the latest three-month period, April–June revenue was ¥18,624 million, operating profit was ¥1,483 million, ordinary profit was ¥1,999 million and net income was ¥1,641 million. The operating margin moved from 8.0% to 6.6%, reflecting the changes to the earnings outlook during the period.