King Jim Co., Ltd. Revises Consolidated Earnings Guidance for the First Half from June 21, 2023 to December 20, 2023
January 26, 2024 at 02:00 am EST
Share
King Jim Co., Ltd. revised consolidated earnings guidance for the first half from June 21, 2023 to December 20, 2023. For the first half, the company expected net sales of JPY 17,890 million, operating loss of JPY 780 million, loss attributable to owners of parent of JPY 420 million and basic loss per share of JPY 14.72 against previous guidance of net sales of JPY 18,000 million, operating loss of JPY 540 million, loss attributable to owners of parent of JPY 200 million and basic earnings per share of JPY 7.01. Reasons for the Revisions: Although the Company strove to increase sales,its sales are expected to be slightly lower than forecast. The Company has deficit is expected to increase due to disposal of inventory of products to combat COVID-19. The
Company has, therefore, revised downward its forecast for net sales and profits, which it announced on October 31, 2023.
KING JIM CO., LTD. is a Japan-based company mainly engaged in the planning, manufacture and sale of stationeries, office supplies and interior decoration products. The Company operates in two business segments. The Stationeries and Office Supplies segment is engaged in the planning, manufacture and sale of general stationeries such as files, file bindings and office automation (OA) support supplies, as well as electronic stationeries such as Tepra label printers and Pomera digital memos. The Interior Lifestyle segment is engaged in the planning and sale of photo frames, aroma related products, watches, kitchen products and interior decoration products, the import, planning and sale of artificial flowers and interior goods, as well as the mail order sale of original furniture products.