Critical Materials & Supply Chain▲
Furukawa Co. revises full-year net profit forecast upward to 14.5 billion yen
Furukawa Co. announced on the 13th that it has revised its consolidated net profit forecast for the fiscal year ending March 2027 upward to 14.5 billion yen, up 13.5% from the previous year, compared with the previous forecast of 5.1 billion yen. The revision reflects solid first-quarter sales from April to June, and the company also booked a gain on sale of fixed assets of about 6 billion yen as extraordinary income following the completion of the transfer of a former smelter site in Australia held by a subsidiary. Net profit for the April-June quarter rose 68.2% year on year to 4 billion yen. In the metals business, in addition to the weaker yen, higher copper prices contributed, driven by supply concerns after China halted sulfuric acid exports and the possibility of U.S. tariffs on refined copper. The chemicals business posted higher revenue on increased demand for package substrates for artificial intelligence.