Nippon Denko Co., Ltd. revised consolidated earnings guidance for the fiscal year ending December 31, 2023. For the year, the company now expects net sales of ¥78,000 million against previous guidance of ¥78,000 million; Profit attributable to owners of parent is now expected to be ¥3,000 million against previous guidance of ¥3,000 million. Basic earnings per share is now expected to be ¥21.78 against previous guidance of ¥21.69.

The recovery of the market price for ferroalloys is expected to be slower and decline even further than anticipated since the third quarter. As a result, The company anticipates an increase in the share of loss of entities accounted for using the equity method due to the expansion of the decline in profit of overseas equity- method affiliates. As a result of the above reasons, the Company has revised forecast for ordinary profit announced on May 11, 2023.

On the other hand, the Company has not changed forecast for net sales, which aren't affected by fluctuations in the share of loss of entities accounted for using the equity method. Likewise, forecast for the current profit attributable to owners of the parent remains unchanged, as the impact of the revision of ordinary profit is expected to be minor due to factors such as an increase in deferred tax assets.