Latest Tokyo Brief coverage on KUMIAI CHEMICAL INDUSTRY CO., LTD., tracking filings, financial news, and market signals from Japan.
TSE:4996
Kumiai Chemical now expects full-year sales of ¥175.0bn, up 8% from its December guidance, but has cut operating profit guidance 62.5% to ¥2.7bn after generic rivals crushed prices for one of its export herbicides and forced an inventory writedown, even as equity-method gains and yen-driven forex gains cushioned the ordinary-profit line and the dividend forecast stayed at ¥24 a share.
Kumi Chemical now expects first-half revenue of ¥102,900 million and operating profit of ¥10,400 million, well above its December forecast, citing pulled-forward agrochemical shipments and solid chemical-product sales. But a separate notice said a subsidiary's chlorination business will record a ¥514 million impairment and a ¥907 million structural reform cost in the February-to-April quarter. The company left its full-year outlook unchanged while assessing Middle East risks. So the operating story improved sharply, but reported profit still comes with attachments.