Hogy Medical revises downward full-year earnings forecast

Hogy Medical (TSE:3593) announced a downward revision of its full-year earnings forecast for the fiscal year ending March 2025, citing the recording of non-operating expenses and extraordinary losses. The company anticipates JPY 1,090 million in investment securities valuation losses as a special loss. Furthermore, the company expects to record JPY 99 million in non-operating expenses related to allowance for losses on rental contracts, and JPY 188 million as special loss regarding valuation loss on shares of affiliated companies and JPY 22 million as non-operating expenses for allowance for doubtful accounts on loans. Due to lower-than-expected kit product sales, increased costs from a weak yen, and inventory write-downs, projected sales have fallen short, with the company now forecasting revenue of JPY 39.11 billion, a decrease of JPY 1.74 billion from the previous forecast. This has resulted in a revised operating profit forecast of JPY 3.74 billion, a decrease of JPY 950 million. Consequently, net income attributable to owners of the parent is now projected at JPY 1.89 billion, a decrease of JPY 1.42 billion from the prior estimate.