Idemitsu Kosan Posts Strong Q1 Gains but Predicts Softer FY2024

Idemitsu Kosan Co (JP:5019) has released an update.

Idemitsu Kosan Co.,Ltd. reported a significant increase in financial performance for Q1 of FY2024, with net sales up by 24.3% and net income attributable to owners surging by 109.3% compared to Q1 of FY2023. The company’s equity ratio also improved from 35.9% to 37.9%, indicating a stronger financial position. Despite these gains, forecasts for FY2024 suggest a slight decrease in net sales and a more considerable drop in operating income and net income.

For further insights into JP:5019 stock, check out TipRanks’ Stock Analysis page.