King Jim Co., Ltd. (JP:7962) has released an update.
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King Jim Co., Ltd. has adjusted its financial forecasts for fiscal year ending June 2024, projecting lower sales and an operating loss influenced by the depreciating yen, increased costs related to COVID-19 product write-downs, and higher administrative expenses. Additionally, the company recorded an extraordinary loss of 172 million yen due to impairment on the goodwill of recently merged HIM Co., LTD. These revisions suggest a significant downturn from the previously forecasted profits, including a notable loss attributable to the company’s owners.
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