Nabtesco exceeds forecasts, raises full-year outlook

Nabtesco Corporation reported first-half net sales of 165.6 billion yen, beating forecasts by 2.9%, while operating income of 10.6 billion yen exceeded expectations by 56%.

The company raised full-year sales guidance to 344 billion yen and operating income to 22.3 billion yen. Nabtesco also announced plans to buy back up to 4 million shares for 10 billion yen.