Kurita Water Industries Ltd. has substantially lowered its first-half net income forecast from the previous forecast, resulting in a 57% decline in profit. The full-year forecast has also been revised downward, making the outlook for the current fiscal year more challenging.
In the first-half earnings revision, revenue was lowered to ¥206,800 million and net income to ¥7,300 million. This represents a substantial decrease from the previous figure of ¥24,600 million, with the revision rates expected to be -70.3% for net income and -69.9% for earnings per share.
Under the current fiscal year full-year revision, revenue was forecast at ¥455,000 million and net income at ¥28,700 million. After the revision, net income remained unchanged at ¥28,700 million, representing a substantial decrease from the previous fiscal year. The revision rates are expected to be -43.4% for net income and -44.1% for earnings per share.
The first-half revision was announced on 26/10/29, and the current fiscal year forecast revision was disclosed on or after the same date. For the stock market and investors, the view expressed is that although revenue may have room to increase, the decline in profit levels is notable. Additional information and disclosures are being watched.