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An announcement from Miyakoshi Holdings, Inc. ( (JP:6620) ) is now available.
Miyakoshi Holdings has booked significant extraordinary losses after deciding to demolish buildings owned by its Shenzhen subsidiary Crown Electronics for the World Innovation Center redevelopment and recognizing impairment on related non-current assets, mainly land-use rights. Additional provisions for demolition and removal costs and extra retirement benefits tied to headcount reductions in the rental management department further weighed on results.
Following a review of the recoverability of deferred tax assets amid weaker earnings prospects, the company reversed these assets and recorded deferred tax expenses, prompting a sharp downgrade to its full-year forecast for the year ending March 31, 2026. Operating revenue and profit projections were cut as tenant move-outs finished earlier than planned and labor costs rose, with Miyakoshi now expecting an operating loss and a net loss of ¥1.0 billion, a marked deterioration from both its previous guidance and the prior fiscal year’s performance.
The most recent analyst rating on (JP:6620) stock is a Hold with a Yen837.00 price target. To see the full list of analyst forecasts on Miyakoshi Holdings, Inc. stock, see the JP:6620 Stock Forecast page.
More about Miyakoshi Holdings, Inc.
Miyakoshi Holdings, Inc., listed on the Tokyo Stock Exchange Prime Market under securities code 6620, operates through subsidiaries including Shenzhen Crown (China) Electronics Co., Ltd. The group is involved in real estate-related projects such as the World Innovation Center development in Shenzhen’s Futian District, alongside its broader electronics-focused business portfolio.
Average Trading Volume: 55,771
Technical Sentiment Signal: Sell
Current Market Cap: Yen34.69B
Find detailed analytics on 6620 stock on TipRanks’ Stock Analysis page.