Edition:
United States

Kurotani lowers consolidated mid-year and full-year outlook for FY 2016


Friday, 19 Feb 2016 02:30am EST 

Kurotani Corp:Says the company lowered the consolidated mid-year outlook for revenue to 21,019 mln yen from 25,163 mln yen for the fiscal year ending Aug. 31, 2016.Sees a decrease of operating profit forecast to a loss of 472 mln yen from 247 mln yen.Sees a decrease of ordinary profit forecast to a loss of 412 mln yen from 173 mln yen.Sees a decrease of net profit forecast to a loss of 328 mln yen from 94 mln yen.Sees a decrease of earnings per share to a loss of 45.87 yen from 13.17 yen.Says the company lowered the consolidated full-year outlook for revenue to 40,933 mln yen from 50,544 mln yen for the fiscal year ending Aug. 31, 2016.Sees a decrease of operating profit forecast to a loss of 202 mln yen from 498 mln yen.Sees a decrease of ordinary profit forecast to a loss of 179 mln yen from 362 mln yen.Sees a decrease of net profit forecast to a loss of 177 mln yen from 220 mln yen.Sees a decrease of earnings per share to a loss of 24.74 yen from 30.74 yen.Comments the global market condition and decreased profitability in core business are the main reasons for the forecast. 

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