About Half of Japan’s Companies Leave Holes in Results Forecasts
About Half of Japan’s Companies Leave Holes in Results Forecasts
(Bloomberg) -- As the earnings season goes into full swing for Japanese companies, the coronavirus pandemic is forcing them to leave gaps and holes in the forecasts for the fiscal year, giving investors an incomplete picture of the outbreak’s impact over the coming months.
As of Thursday, 143 companies on the first section of the Tokyo Stock Exchange have announced results for fiscal year ended 2020. Among them, 66 businesses, or about half, have left blanks in their guidance for fiscal full-year periods ending in 2021, be it the complete annual forecast, or dividend, or both.
Of those with incomplete outlooks, more than 50% were retailers, which have reported over the past two weeks. Some of the notable large-cap companies include Seven & i Holdings Co., which postponed its full-year profit and dividend forecast. Japanese tech supplier Yaskawa Electric Corp. only proffered an outlook for the first quarter.
| Company | What was left undisclosed in guidance |
|---|---|
| Seven & i | Forecast for FY ending Feb. 2021 and dividend |
| Aeon Co. | Forecast for ordinary and net income |
| Yaskawa Electric | Forecast for FY ending Feb. 2021 and dividend (gives 1Q estimates) |
| Toho Co. | Forecast for FY ending Feb. 2021 |
| Lawson Inc. | Forecast for FY ending Feb. 2021 and dividend |
Japan’s earnings season for the fiscal year and quarter ending in March usually goes into full swing in late April. Researcher Teikoku Databank has also said that the pandemic has forced 217 listed Japanese companies to warn of lower profits and sales in the coming year.
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