Furukawa Battery tender offer delayed, earnings forecast revised upward

Furukawa Battery announced a delay in the anticipated tender offer by AP78 Co., Ltd. due to ongoing regulatory procedures in Japan. While the necessary approvals in Thailand have been secured, discussions with the Japan Fair Trade Commission are still in progress, pushing the expected start of the tender offer to late June 2025. This delay comes as Furukawa Battery also announced a positive revision to its full-year earnings forecast for the fiscal year ending March 31, 2025. The company now projects sales of ¥83 billion, up from the previous forecast of ¥80 billion, with operating profit expected to reach ¥5.4 billion, a significant increase from the prior estimate of ¥4 billion. This upward revision is attributed to robust sales performance both domestically and internationally, along with favorable foreign exchange effects.