Nisshinbo cuts profit forecast 40% on restructuring charges

Nisshinbo Holdings revised its full-year net income forecast to 11 billion yen, down 39.9% from the initial 18.3 billion yen.

The revision reflects 1 billion yen in restructuring costs for an early retirement program in its Wireless and Communications business and 4.15 billion yen in impairment losses for fuel cell carbon separator assets in the Chemicals business.