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Nachi-Fujikoshi <6474> Tumbles in Late Trading on a 22% Drop in Q1 Net Profit.
Shares of Nachi-Fujikoshi Corp. <6474> dropped sharply in late afternoon trading following the release of its first-quarter financial results. While consolidated sales rose 6.2% year-on-year to \60.21 billion, net profit fell 21.7% to \1.12 billion, which prompted a sell-off.
Top-line growth was driven by solid demand for tools in the Americas and ASEAN, alongside a recovery in hydraulic equipment for construction machinery across Europe, the U.S., and China. However, the bottom line was pressured by \164 million in extraordinary restructuring costs.
Source: MINKABU PRESS
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