Akebono Brake Lifts Profits on Flat Sales, Keeps Dividend at Zero

An announcement from AKEBONO BRAKE INDUSTRY CO ( (JP:7238) ) is now available.

Akebono Brake Industry reported nine-month net sales of ¥119.9 billion, down 0.8% year on year, but operating profit surged 160.9% to ¥4.4 billion and ordinary profit returned to positive territory, even as profit attributable to owners of parent fell 36.7% to ¥1.2 billion. The company’s equity ratio edged down to 37.8%, dividends on common shares remain at zero, and full-year guidance was revised to forecast lower sales but sharply higher operating profit, with modest positive net income, underscoring ongoing restructuring and efforts to strengthen profitability despite a flat revenue environment.

The most recent analyst rating on (JP:7238) stock is a Hold with a Yen130.00 price target. To see the full list of analyst forecasts on AKEBONO BRAKE INDUSTRY CO stock, see the JP:7238 Stock Forecast page.

More about AKEBONO BRAKE INDUSTRY CO

Akebono Brake Industry Co., Ltd. is a Japan-based manufacturer specializing in automotive brake systems and related components. Listed on the Tokyo Stock Exchange under securities code 7238, the company serves global automakers with braking products designed for passenger vehicles and other transportation applications.

Average Trading Volume: 1,643,013

Technical Sentiment Signal: Hold

Current Market Cap: Yen34.47B

Learn more about 7238 stock on TipRanks’ Stock Analysis page.