Dowa Holdings has revised its guidance upward for the rest of the fiscal ending on March 31, 2021, after posting a stronger performance across its automotive products business. The firm expects the prices of base metals to continue rising through the rest of the year.
The company expects sales to touch JPY252bn ($2.4bn) by the end of the fiscal, up 11pc from its August sales guidance of JPY227bn. The firm also raised its total operating income forecast by 90.9pc to JPY12.6bn from JPY6.6bn in August, it said in a statement.
The Japanese manufacturer expects its non-ferrous net sales to touch JPY124bn from JPY110.9bn and the division’s operating income could reach JPY7.5bn compared with the initial forecast of JPY3.5bn by the end of the financial year.
The firm’s metal processing business segment’s net sales are expected at JPY31bn up from JPY29.9bn predicted earlier this year, while its operating income forecast has remained unchanged at JPY500mn.
($1 = JPY103.28)