Krosaki Harima forecasts higher profit due to asset sale

Krosaki Harima announced that its board has approved the transfer of fixed assets, leading to an expected extraordinary gain of approximately JPY 7.5 billion in the second quarter of the fiscal year ending March 2026. While the sale is projected to decrease sales, operating income, and recurring profit within the company's real estate sector for FY2026, the company has revised its full-year consolidated net profit forecast upward by JPY 5.5 billion, from JPY 10 billion to JPY 15.5 billion. This translates to an increase in expected earnings per share from JPY 296.93 to JPY 460.24. The company cited the reallocation of management resources and securing investment funds for sustainable growth as the reason for the asset transfer. The specific asset being transferred is land and buildings located in Osaka Prefecture, currently used as a commercial facility, and valued at JPY 627 million. The transfer is scheduled for July 1, 2025.