Nichiha Corporation revised ordinary income for the current fiscal year downward from its previous forecast of ¥9.8 billion to ¥7.9 billion. Cumulative results through the first half, covering the second quarter, came to ¥3.48 billion, down 5.9% year on year.
On 10 November, Nichiha Corporation released its earnings report and announced that ordinary income for the current fiscal year had been revised to ¥7.9 billion, below the previous forecast of ¥9.8 billion. Cumulative results for the second quarter, covering April to September, came to ¥3.48 billion, down 5.9% year on year.
Following the downward revision for the current fiscal year, full-year ordinary income is expected to decline by approximately 19.4% from the previous forecast, while net income is expected to decline by 22.9%. As the outlook for the second half of the fiscal year, ordinary income is estimated to fall to ¥4.41 billion. Results for the most recent three months, July to September, came to ¥1.57 billion, down 42.7% year on year, while the operating margin on sales deteriorated from 6.4% to 4.6%.
The forecast for the current fiscal year was disclosed as a comparison between the previous forecast before and after the revision. Sales are expected to remain broadly flat, while a new ordinary income figure was presented as the revised forecast.