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SHINAGAWA Refractories shares soft after cutting net profit forecast on impairment charges
Shinagawa Refractories <5351> was lackluster. After the market close on April 16, the company cut its consolidated earnings forecast for the fiscal year ending March 2026, lowering its net profit target to 26.0 billion yen from 31.0 billion yen (up 2.7-fold year-on-year). The cut was attributed to impairment charges at its Ako plant and overseas subsidiaries. The news weighed on the shares.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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