Headwaters has corrected the per-share element of its annual earnings outlook, but not the underlying business targets. In a June 17 amendment to a May 15 forecast revision, the company cut forecast earnings per share for the year ending December 31, 2026 to ¥72.92 from ¥101.66.
| Metric | Before correction | After correction |
|---|---|---|
| Earnings per share | ¥101.66 | ¥72.92 |
| Net sales | ¥8.56bn | ¥8.56bn |
| Operating income | ¥753mn | ¥753mn |
| Ordinary profit | ¥619mn | ¥619mn |
| Profit attributable to owners of parent | ¥391mn | ¥391mn |
Everything else in the revised outlook was left as previously stated. Headwaters kept net sales at ¥8.56bn, operating income at ¥753mn, ordinary profit at ¥619mn and profit attributable to owners of parent at ¥391mn. Those are still the higher full-year targets the company set out in May, compared with its earlier forecast of ¥5.76bn in sales and ¥436mn in operating income.
So the practical read-through is narrow but important: this is not a fresh downgrade to the business plan. It is a correction to how much forecast profit translates into earnings per share. The notice says only that the earlier disclosure contained an error, and the text provided does not explain the cause.