Sekisui Kasei Net Income Soars; Net Sales Drop
Sekisui Kasei (TYO:4228) posted a 477% year-over-year increase in attributable net profit for the fiscal first quarter to 1.8 billion yen from 311 million yen.The chemicals company's net income per share was 39.38 yen, compared with 6.85 yen a year earlier, according to a Tokyo Stock Exchange filing on Friday.Net sales declined 20% to 25.6 billion yen for the three months ended June 30 from 32 billion yen a year ago.Sekisui Kasei raised its first-half attributable net income forecast to 2 billion yen from 1 billion yen initially, EPS to 43.86 yen from 21.95 yen and net sales to 52 billion yen from 50.5 billion yen.The revision was driven by earnings contributions from the review of unprofitable businesses and asset sales, improved production efficiency, and appropriate price revisions implemented earlier than anticipated.The full-year ended March 31, 2027 forecast net income was left unchanged at 2.5 billion yen, net income per share at 54.83 yen, and net sales of 105 billion yen.Sekisui Kasei plans to pay interim and year-end dividends of 5 yen and 12 yen per share, respectively, for the current year.
