Jtekt Corporation revises upward full-year financial forecasts

Jtekt Corporation (TSE:6473) announced revisions to its full-year financial forecasts on April 23, 2025, reflecting recent positive business trends. The company now anticipates revenue of JPY1,880,000 million, up from the previous forecast of JPY1,860,000 million. Business profit is projected to be JPY64,000 million, a significant increase from the earlier JPY55,000 million. The profit before income taxes has been revised from JPY27,000 million to JPY30,000 million, and the profit attributable to owners of the parent company is now estimated at JPY13,000 million, a notable increase from the initial JPY5,000 million. Consequently, basic earnings per share are expected to reach JPY38.26, substantially higher than the previous JPY14.58. The upward revisions are attributed to cost improvement initiatives, successful recovery from customers related to cost increases, a reduction in income tax expenses due to deferred tax asset recognition stemming from improved Indian business profitability, and tax refunds received in the United States. While these forecasts are based on currently available information, Jtekt acknowledges that actual results may vary due to unforeseen future factors.