Kurita Water Industries (TYO:6370) cut its business forecast for the fiscal year ended March 31, primarily due to impairment losses, according to its Tokyo bourse filing on Monday.
The company now expects a lower attributable profit of 20.3 billion yen or 180.61 yen per share from 34.5 billion yen or 306.81 yen per share previously.
The company expects record impairment losses of 16.5 billion yen for Pentagon Technologies Group, and 2.5 billion yen for Kurita Fracta Holdings, both consolidated subsidiaries.
Pentagon Technologies' lower-than-expected revenue is attributed to low capacity utilization at major customer's semiconductor plants and changes to their construction plans. Fracta's inability to achieve expected revenue is due to delays in establishing its business structure.
Despite these revisions, the dividend forecast remains unchanged.
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