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The latest update is out from Fujitec Co., Ltd. ( (JP:6406) ).
Fujitec Co., Ltd. announced a reversal of deferred tax assets in its third-quarter financial results, due to revised earnings projections for its Chinese subsidiary. This decision led to a recorded deferred tax expense of 1,558 million yen. The company also revised its earnings forecasts for the fiscal year ending March 31, 2025, citing decreased sales in East Asia due to a real estate market downturn in China. Despite increased sales in other regions, operating and ordinary income forecasts were adjusted downward. The company maintained its year-end dividend forecast, attributing the earnings revision to temporary expenses.
More about Fujitec Co., Ltd.
Fujitec Co., Ltd. operates in the elevator and escalator industry, focusing on manufacturing and providing maintenance services for vertical transportation systems. The company has a significant market presence, particularly in Asia, and is known for its emphasis on safety and innovation in its product offerings.
YTD Price Performance: -3.86%
Average Trading Volume: 167,338
Technical Sentiment Consensus Rating: Sell
Current Market Cap: Yen448.3B
For detailed information about 6406 stock, go to TipRanks’ Stock Analysis page.