Japan Foods Faces Earnings Hit From Likely Sustained Cost Pressures -- Market Talk

Dow Jones05-29

0448 GMT - Japan Foods Holding faces earnings hit from likely sustained cost pressures, RHB Research analyst Shekhar Jaiswal says in a research note as RHB lowers the stock's target price to S$0.26 from S$0.29 with an unchanged neutral rating. Higher labor, utilities and depreciation costs led to a material increase in the food & beverage group's operating costs in 2H FY 2024 which are likely to persist, the analyst says. The Singapore-listed company has lowered its dividend payouts and is now in cash conservation mode, says RHB, which cuts its FY 2025-2026 earnings estimates for Japan Foods Holding by 9%-11%. Shares are 1.9% higher at S$0.265. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

May 29, 2024 00:48 ET (04:48 GMT)

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The Singapore-listed company has lowered its dividend payouts and is now in cash conservation mode, says RHB, which cuts its FY 2025-2026 earnings estimates for Japan Foods Holding by 9%-11%. Shares are 1.9% higher at S$0.265. 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