TYO:7599

Tokai Tokyo Downgrades Idom to Neutral from Outperform; Price Target is 1,420 Yen

Idom's Full-Year Profit Falls 11%

Idom's (TYO:7599) profit attributable to owners of the parent fell 11% to 11.9 billion yen for the fiscal year ended Feb. 28 from 13.4 billion yen a year earlier.The used car sales company's basic earnings per share declined to 118.66 yen from 133.93 yen a year ago, according to a Tokyo bourse filing on Monday.Net sales climbed 13% to 562.8 billion yen from 496.7 billion yen in the prior year.In a separate filing, Idom declared a final dividend of 20.17 yen per share, payable from May 27.The figure, which is lower than the most recent forecast of 21.92 yen and the 20.80 yen paid in the previous year, will be submitted for approval at the general shareholders' meeting on May 26.For the fiscal year ending Feb. 28, 2027, the company expects attributable profit of 14.2 billion yen, basic EPS of 141.42 yen, and net sales of 629 billion yen.Idom plans to pay interim and year-end dividends of 21.06 yen and 21.37 yen per share, respectively, for the year.