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OSG's Six-Month Net Income Soars 93%

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OSG's(TYO:6136) net income attributable to owners of the parent rose 93% to 12.5 billion yen for the semi-annual period ended May 31 from 6.48 billion yen a year earlier.

The tool manufacturer's earnings per share increased to 134.61 yen from 68.31 yen a year ago, according to a Tokyo bourse filing on Friday.

Net sales jumped 19% to 92.1 billion yen for the six months ended May 31 from 77.4 billion yen in the prior-year period.

In a separate filing, OSG raised its forecasts for the fiscal year ending Nov. 30, citing better-than-expected semi-annual performance.

The company now expects net income attributable to owners of parent of 21 billion yen from 15.4 billion yen initially, net income per share of 255.60 yen from 187.46 yen, and net sales of 185 billion yen from 165 billion yen.

OSG plans to pay a year-end dividend of 76 yen per share for the current fiscal year, which is higher than the 60 yen year-end dividend paid in the year-ago period.

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