Renova surged more than 4% from the previous day in trading on August 21, recovering to 960 yen. The company reported first-quarter results for the fiscal year ending March 2027, with revenue down 5.8% year on year to 19.3 billion yen, operating profit down 68.4% to 1 billion yen, and quarterly profit attributable to owners of the parent down 89.0% to 95 million yen. The company explained that the decline in operating profit reflected a 1.1 billion yen impact from the shutdown of a biomass power plant for regular inspections, a 400 million yen impact from the shutdown of the Karumai Nishi Solar limited liability company, and a 300 million yen impact from lower business development fees. Full-year earnings forecasts are unchanged, and the company said power generation across its plants has progressed almost as planned overall, with quarterly profit advancing in line with expectations.
RENOVA, Inc.Q1 operating profit fell 68.4% due to plant shutdowns and lower fees, though in line with expectations.
