Nichiryoku revises earnings forecast, plans equity financing

Nichiryoku (TSE:7578) has revised its earnings forecast for the fiscal year ending March 31, 2025, citing intensified competition and a shift towards smaller, less expensive funeral services. The company now expects revenue of JPY 2,278 million, a substantial decrease from the previous forecast of JPY 3,400 million. Operating profit is now projected at JPY -29 million compared to JPY 350 million in previous forecast, and net losses are now estimated at JPY -77 million.