SANEI (6230), a plumbing fixtures maker listed on the Tokyo Stock Exchange's Standard Market, on Oct. 26 cut its net profit forecast for the fiscal year ending March 2027 by 49.2% to ¥650 million from ¥1.28 billion.
For the April-September first half, sales rose 2.9% from a year earlier to ¥14,441 million, while operating profit fell 50.1% to ¥333 million and net profit attributable to owners of the parent dropped 60.3% to ¥175 million, or ¥38.27 per share. Against the forecast issued on May 7, sales came in 3.7% short, operating profit 57.3% short and net profit 63.5% short.
SANEI said its IENI series continued to sell well and sales of higher-value products such as automatic faucets grew, but a slump in the housing market weighed on demand. Profits were also hit by a further rise in raw material prices and slower uptake of price revisions. For the full year, the company expects raw material and procurement costs to stay high amid concerns over further inflation, and said profits will fall short of the May forecast even as price revisions take hold.
| Item | Previous forecast | Revised forecast | Change |
|---|---|---|---|
| Net sales | ¥30.8 billion | ¥29.5 billion | -4.2% |
| Operating profit | ¥2.0 billion | ¥1.1 billion | -45.0% |
| Ordinary profit | ¥1.95 billion | ¥1.0 billion | -48.7% |
| Net profit | ¥1.28 billion | ¥650 million | -49.2% |
| EPS | ¥279.61 | ¥141.99 | — |
The revised outlook puts sales up 1.6% from the previous year, with operating profit down 39.9%, ordinary profit down 44.6% and net profit down 46.8%.
The dividend forecast was left unchanged. SANEI set its interim dividend at ¥37 per share, up from ¥32 a year earlier, and expects a year-end dividend of ¥38 for an annual total of ¥75. The previous year's annual dividend was ¥69, including a ¥5 commemorative payout.
SANEI plans to file its semiannual securities report on Nov. 6, 2026, and to begin paying the interim dividend on Dec. 1, 2026.
| Hikari Tsushin, Inc. | |
| Offer price | ¥1,000 per common share |
| M&A / TOB | 1 |
| Guidance | 0 |
| Buybacks | 0 |
| Dividends | 0 |
| Capital | 0 |
| Earnings | 0 |
| People | 0 |
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