GNI Group revises 2024 forecasts and fact book

GNI Group (TSE: 2160) announced revisions to its consolidated financial results forecasts and related documents for the fiscal year ending December 2024, initially released on March 5, 2025. The correction stems from a previously disclosed adjustment related to GNI's 100% owned subsidiary, GNI USA, Inc., which reported additional profits discovered after initial reporting, alongside a related tax impact that necessitates tax-effect accounting. The revisions also affect figures presented in GNI’s Fact Book and financial results briefing, most significantly impacting sales revenue (revised to ¥23.61 billion from ¥39.57 billion), operating profit (reduced to ¥1.40 billion from ¥16.29 billion), profit before tax (decreased to ¥238 million from ¥15.55 billion), and net profit (showing a loss of ¥9 million instead of a profit of ¥12.29 billion), with basic earnings per share adjusted to 21.96 yen. The company projects 2025 sales revenue of ¥28.73 billion, operating profit of ¥23.22 billion and parent company owners net profit to be 12.058 billion.