For the six months ending 30 September the Japanese manufacturer has revised its operating profit forecast upwards, from ¥300m (£1.96m) to ¥509m, but expects sales to be nearly ¥2bn lower at ¥40.14bn.
For the full year to 31 March 2022, it is expecting sales of ¥88bn (was ¥90bn), but operating profits nearly half of previous expectations at ¥1bn compared to the forecast it made in June of ¥1.9bn.
Komori said that in general sales had “largely been brought back to a recovery track”, with the global economy experiencing an overall recovery trend “thanks to such positive factors as economic stimulus packages released by major countries to counter fallout from the novel coronavirus pandemic”.
However, Komori’s production activities are currently affected by global supply chain issues involving tight supply of parts and materials, and the resulting delays in the delivery of these goods.
Although first half profits will exceed previous forecasts thanks to favourable foreign exchange rates, Komori said it had “decided to factor in the impact of a possible decrease in sales volumes due to the tight supply of parts and materials as well as rising procurement costs amid widespread economic recovery from stagnation induced by the pandemic”.
“Taking these factors into account, operating income, ordinary income and profit attributable to owners of the parent are expected to fall short of the previous forecasts.”
In the year ending 31 March 2020 Komori had sales of ¥77.65bn, down 14% on the prior year's ¥90.24bn.
