Sekisui Kasei Co (TYO:4228) expects to record non-operating expenses and extraordinary losses for fiscal 2024, prompting earnings and dividends forecast revision for the year ending March 31.
The chemicals company now expects a net loss of 7.4 million yen from a net profit of 400,000 yen previously, while net sales are expected to be slightly higher at 136 billion yen from 134 billion yen, according to its Tokyo bourse filing last Friday.
This revision stems from factors including an impairment loss on fixed assets related to the transfer of European subsidiaries and business restructuring expenses.
Due to the expected net loss, Sekisui Kasei has also revised its year-end dividend forecast to zero yen.
Sekisui Kasei's shares shed nearly 5% at market close.
Price (JPY): $324.00, Change: $-17, Percent Change: -4.99%
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