Shinagawa Refractories lifts profit forecast on asset sale

Shinagawa Refractories Co., Ltd. announced its board of directors resolved on December 11, 2025, to transfer fixed assets comprising land and buildings in Jingumae 5-chome, Shibuya-ku, Tokyo. This sale is expected to generate approximately JPY 28,000 million in extraordinary income, aiming to strengthen the company's financial position by repaying interest-bearing debt and securing investment capital. The agreement is scheduled for December 12, 2025, with asset delivery on December 19, 2025.

As a result, the company has revised its consolidated and non-consolidated earnings forecasts for the fiscal year ending March 31, 2026. Consolidated net income attributable to parent company shareholders is now projected at JPY 31,000 million, a significant increase from the previously forecast JPY 13,000 million. Non-consolidated net income is expected to rise from JPY 12,500 million to JPY 32,500 million.

Despite the improved profit outlook, the company’s annual dividend forecast of JPY 90.00 per share, announced on May 15, 2025, remains unchanged. Shinagawa Refractories aims to continue enhancing corporate value through a sound financial structure and strategic growth initiatives.