土屋ホールディングス has cut its ordinary profit forecast for the current period to ¥0. Its second-half ordinary profit forecast was also lowered from the previous forecast of ¥1,550 million to ¥1,150 million, making the overall outlook more challenging. The revision was announced together with the results for the core cumulative third quarter.
土屋ホールディングス released its cumulative third-quarter financial results. Net sales were ¥21,037 million, operating loss was ¥1,139 million, ordinary loss was ¥1,103 million, and net loss was ¥852 million, with losses widening year on year.
The ordinary profit forecast for the current period was cut from the previous forecast of ¥400 million to ¥0, while the net profit forecast was also lowered to ¥0. In effect, 土屋ＨＤ has withdrawn its expectation of returning to profitability in its outlook for the current period.
The second-half forecasts were also revised, with net sales lowered from ¥20,982 million to ¥19,482 million and ordinary profit lowered from ¥1,550 million to ¥1,150 million. The ordinary profit forecast was revised by −25.8%, while the net sales forecast was revised by −7.1%.
For the full current period, ordinary profit and net profit are both projected at ¥0, representing a substantial downward revision to the full-year outlook at this stage.