Dai Nippon Toryo announced during the afternoon session on 27 October that it had revised its consolidated first-half ordinary profit forecast upward from the previous ¥2.25 billion to ¥4.85 billion, or 2.2 times the earlier forecast, and expected to post a first-half record high for the first time in 9 periods. It also revised its full-year ordinary profit forecast to ¥8.5 billion and is expected to significantly increase its profit growth rate.
Dai Nippon Toryo announced that it had raised its consolidated ordinary profit forecast for the first half of the current fiscal year from the previous ¥2.25 billion to ¥4.85 billion, anticipating a significant increase from the same period a year earlier. As a result, first-half profit is expected to reach a record high for the first time in 9 periods.
At the same time, it raised its full-year consolidated ordinary profit forecast from the previous ¥5.8 billion to ¥8.5 billion, well above the ¥4.47 billion recorded in the previous fiscal year. The profit growth rate is expected to expand significantly, and full-year profit may also reach a record high.
The revision reflects a recovery in sales in the domestic coatings business, particularly structural coatings, following the lifting of the temporary suspension of JIS mark labeling in the previous fiscal year and progress in implementing measures to prevent a recurrence. In addition to higher sales volumes, price revisions reflecting rising raw material costs also contributed.
The interim results are also expected to include an extraordinary gain of approximately ¥41 million on the sale of shares in an affiliate, which is contributing to the upward revision of the full-year forecast.