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Nisshin OilliO Group, Ltd. ( (JP:2602) ) just unveiled an announcement.
The Nisshin OilliO Group has revised its full-year consolidated earnings forecasts for FY2024, anticipating lower profits due to challenges in the oil and fat segment. Despite efforts to adjust sales prices and cut expenses, the company expects profits to fall below initial expectations. However, the processed food and materials segment, particularly the chocolate business, is expected to exceed profit expectations due to successful pricing strategies and maintained sales volumes. The overall impact of the oil and fat segment’s performance has led to a downward revision of profit forecasts.
More about Nisshin OilliO Group, Ltd.
The Nisshin OilliO Group, Ltd. operates in the oil and fat industry, focusing on products such as edible oils, processed foods, and materials. The company is listed on the Prime Market of the Tokyo Stock Exchange and is known for its efforts in adjusting sales prices and managing costs effectively.
YTD Price Performance: -4.05%
Technical Sentiment Consensus Rating: Hold
Current Market Cap: €989.6M
For an in-depth examination of 2602 stock, go to TipRanks’ Stock Analysis page.