Asukanet projects loss, president to step down

Asukanet announced it expects to record inventory valuation losses of JPY 254 million in cost of sales and special losses totaling JPY 377 million, including JPY 147 million in impairment losses on fixed assets and JPY 230 million in investment securities valuation losses. Consequently, the company has revised its full-year consolidated earnings forecast for the fiscal year ending April 30, 2025. The revised forecast projects a decrease in sales to JPY 7.257 billion, an operating profit of JPY 176 million, an ordinary profit of JPY 180 million, and a net loss attributable to owners of the parent of JPY 266 million, or a loss per share of JPY 16.52. In light of these challenges, current Representative Director and President Yuji Matsuo will step down on May 1, 2025, and Daikichiro Murakami, currently a director and head of strategic planning, will assume the role of Representative Director and President.