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The latest update is out from Taiheiyo Cement ( (JP:5233) ).
Taiheiyo Cement has booked a ¥24.4 billion impairment loss on plant and machinery at its Philippine subsidiary, Taiheiyo Cement Philippines, Inc., after reassessing its business plan amid higher interest rates and sluggish post-pandemic demand in the local cement market. The company also recorded a ¥37.8 billion loss on valuation of shares in the same unit on a non-consolidated basis, though this latter charge is eliminated at the consolidated level.
Following these charges, Taiheiyo Cement cut its consolidated full-year profit attributable to owners forecast from ¥45 billion to ¥17 billion, even as ordinary profit guidance was slightly raised on foreign exchange gains and sales projections were maintained. On a non-consolidated basis, the company slashed its profit forecast from ¥40 billion to ¥1 billion and trimmed net sales expectations, signaling a sharp hit to parent-company earnings while keeping its dividend outlook unchanged.
The most recent analyst rating on (JP:5233) stock is a Hold with a Yen4773.00 price target. To see the full list of analyst forecasts on Taiheiyo Cement stock, see the JP:5233 Stock Forecast page.
More about Taiheiyo Cement
Taiheiyo Cement Corporation is a major Japanese cement producer engaged in the manufacture and sale of cement and related materials, with international operations including a wholly owned subsidiary in the Philippines. The group serves construction and infrastructure markets, and its performance is influenced by regional demand trends, interest rates, and foreign exchange movements.
Average Trading Volume: 463,891
Technical Sentiment Signal: Buy
Current Market Cap: Yen496.3B
For detailed information about 5233 stock, go to TipRanks’ Stock Analysis page.