Toyo Ink cuts full-year outlook, slashes battery investment

Toyo Ink SC Holdings reported first-half net sales fell to 168.7 billion yen from 172.3 billion yen year-over-year, while operating profit dropped to 9.4 billion yen from 10.6 billion yen.

The company cut its full-year forecast to 355.0 billion yen in sales and 19.0 billion yen in operating profit. Most notably, Toyo Ink slashed planned investment in lithium battery-related businesses from 7.1 billion yen to just 1.9 billion yen for fiscal 2025.