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NAGAHORI CORP to Acquire SJ Jewelry Corporation from mitsuiwa corporation; Lowers Consolidated Full-year Outlook for FY 2013

Tuesday, 29 Jan 2013 01:00am EST 

NAGAHORI CORP announced that it has decided to acquire 622,000 shares (a 100% stake) of SJ Jewelry Corporation's stock from mitsuiwa corporation, effective January 29, 2013. The transaction amount is not disclosed. The Company also announced that it has lowered the consolidated full-year outlook for revenue from JPY 15,100 million to JPY 14,540 million, operating profit from JPY 720 million to JPY 450 million, ordinary profit from JPY 590 million to JPY 400 million, net profit from JPY 290 million to JPY 160 million and earning per share from JPY 18.63 to JPY 10.28 for the fiscal year ending March 31, 2013. The negative outlook is mainly due to less-than-expected sales and increase of costs. 

Company Quote

3.0 +1.20%
1:00am EST