TOKYO (dpa-AFX) - Makita Corp. (MKTAY) Friday said that its half-year profit rose from a year ago, helped by lower costs and benefits from foreign exchange rates. Revenue, however, fell 2.1 percent and the company provided the outlook for the year ahead.
The Japanese manufacturer of power tools reported profit attributable to owners of the parent of 38.80 billion yen in the first six months, 1.6 percent higher than 38.20 billion yen in the same period last year.
On a per share basis, basic earnings climbed to 145.80 yen in the six-month period from 141.99 yen in the year-ago period.
According to Makita Corp, pre-tax profit rose 3.1 percent to 53.0 billion yen from 51.32 billion yen in the prior-year period.
Half-yearly revenues, however, declined 2.1 percent to 378.42 billion yen from 386.44 billion yen in the corresponding period last year, affected by slow housing demand and low investment in the construction and building markets.
Looking ahead, the company provided outlook for fiscal 2026. It expects profit attributable to owners of the parent of 68.50 billion yen or 257.41 per basic share for the year ending March 31, 2026. Revenue is projected to touch 730.0 billion yen in the year ahead.
On the OTC Markets, MKTAY ended Thursday's trading at $30.54, down 1.20 percent.
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