TYO:7701

Shimadzu Profit Rises 68% in Fiscal Q1

Shimadzu (TYO:7701) posted a 68% year-over-year increase in profit attributable to owners of the parent to 13.3 billion yen for the three months ended June 30 from 7.9 billion yen.The industrial and testing equipment maker's basic earnings per share increased to 46.14 yen from 27.42 yen a year ago, according to a Tokyo Stock Exchange filing on Monday.Net sales climbed 10% to 130.6 billion yen from 118.4 billion yen in the year-ago period.For the fiscal year ending March 31, 2027, the company forecasts an attributable profit of 59 billion yen, basic EPS of 204.19 yen, and ordinary profit of 620 billion yen.The company plans to pay a second quarter-end dividend of 27 yen per share for the current fiscal year.

Phillip Securities Starts Shimadzu at Buy with 5,350 Yen Price Target

Shimadzu (TYO:7701) has an average rating of overweight and mean price target of 4,900 yen, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Market Chatter: JGC to Make Plastics From CO2-Eating Bacteria by 2030

JGC Holdings (TYO:1963) plans to mass-produce bioplastics using bacteria that feed on carbon dioxide, Nikkei Asia reported on Wednesday, citing CEO Masayuki Sato.The company aims to open a commercial plant by 2030 capable of producing thousands of tons of plastic annually, following a smaller capacity expansion by 2027, the report said.JGC opened a 30 billion yen research center in Kobe, which it calls the world's first facility dedicated to mass-producing bioplastics this way.The project, which has received Japanese government support, will initially grow bacteria that make seawater-biodegradable plastics in collaboration with companies such as Kaneka (TYO:4118) and Shimadzu (TYO:7701).(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Tokai Tokyo Starts Shimadzu at Outperform with 5,100 Yen Price Target