AGC (JP:5201) has released an update.
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AGC Inc. has recorded significant impairment losses of 118.3 billion yen due to a downturn in its biopharmaceuticals CDMO business, leading to a downward revision of its full-year financial forecasts for 2024. Operating profit is projected to fall, influenced by sluggish sales in the biopharmaceuticals sector and a slowing European economy, although net sales forecasts remain unchanged due to strong electronic materials shipments. Despite these setbacks, the dividend forecast is not affected.
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