SCSK (TYO:9719) has raised its full-year profit forecast after selling 4.16 million shares of Argo Graphics (TYO:7595) for 18.62 billion yen in a tender offer that concluded on June 9, according to a Tuesday filing on the Tokyo Stock Exchange.
The Tokyo-based IT services firm will book a 7.3 billion yen gain on the sale and a 1 billion yen gain from revaluation as ARGO GRAPHICS will no longer be treated as an equity-method affiliate from July 2, when the settlement is scheduled.
SCSK's stake in the engineering software provider will drop to 2.6% from 21.2%.
SCSK now expects profit attributable to shareholders of 63.5 billion yen for the year ending March 2026, up 10.2% from its previous forecast. Consolidated ordinary profit is projected to rise to 88.3 billion yen, an 8.3% increase. Operating profit and revenue forecasts remain unchanged.
The company maintained its dividend forecast at 94 yen per share.