Takachiho Koheki Cuts Full Year and Dividend Forecasts

MT Newswires Live19:37

Electronics trading company Takachiho Koheki (TYO:2676) has cut its attributable profit forecasts for the fiscal year ending March 31 to 1.4 billion yen from 1.5 billion yen earlier.

Earnings per share are now projected at 75.05 yen, from 80.44 yen initially, while net sales remain unchanged at 30 billion yen, according to its Tokyo bourse filing on Thursday.

The company raised its ordinary profit forecast to 2.4 billion yen, citing foreign exchange gains from the yen's weakening trend and a gain on the sale of a venture capital fund following an investee company's exit.

However, it also logged an extraordinary loss of 337 million yen from a valuation loss on investment securities, triggered by a significant decline in an investee's business performance.

Consequently, the company has also reduced its year-end dividend forecast to 40.50 yen per share, down from 46.00 yen previously.

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