Marumae Revises Up Earnings Forecast for Fiscal Year 2024

MT Newswires Live

Sep 13, 2024

Marumae (TYO:6264) has revised its earnings forecast upwards for the fiscal year ended Aug. 31, according to its Thursday filing.

The machinery manufacturer now projects net sales of 4.75 billion yen, an increase of 69 million yen, primarily due to higher orders for semiconductor consumables and G8 OLED in the FPD sector.

Despite the absence of anticipated orders for solar cell production equipment parts, profitability is expected to improve due to increased inventory and controlled capital investment and headcount.

As such, attributable profit is forecasted at 29 million yen or 2.29 yen per share from a loss of 34 million yen or a loss per share of 2.69 yen.

Additionally, the company anticipates an increase of approximately 40 million yen in provisions for loss on orders and inventory valuation, partly due to Typhoon No. 9 affecting factory utilization in August.

Price (JPY): $1524.00, Change: $-20, Percent Change: -1.30%

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