Sanoh Industrial Co., Ltd. ( (JP:6584) ) has provided an announcement.
Sanoh Industrial Co., Ltd. disclosed its Q3 FY2024 financial results, revealing a challenging business environment, particularly in China and Europe, leading to a downward revision of earnings forecasts. The company anticipates impairment losses in China due to declining sales from Japanese OEMs and restructuring expenses in Europe due to sluggish sales and a shift towards BEVs. Despite these challenges, Sanoh is optimistic about potential market share growth in the U.S. and Europe, driven by inquiries from major automakers and industry restructuring. The company is also actively pursuing opportunities in the data center cooling market, although no orders have been secured yet.
More about Sanoh Industrial Co., Ltd.
Sanoh Industrial Co., Ltd. operates in the automotive parts industry, focusing on the production of vehicle piping products. The company has a significant market presence in regions like the Americas and Asia, and it is working to expand its market share with Japanese automakers in the United States.
YTD Price Performance: -24.16%
Average Trading Volume: 184,773
Technical Sentiment Signal: Strong Buy
Current Market Cap: Yen18.39B
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