Toyo Seikan Group Holdings,Ltd. [5901.T]
TOKYO, Mar 31 (Pulse News Wire) – Toyo Seikan Group Holdings,ltd. (5901.T) announced today that its subsidiary, Toyo Seikansha Co., Ltd.
(hereinafter referred to as “TSK”), has decided to terminate discussions with TOPPAN Holdings Co., Ltd. concerning the establishment of a joint venture. The decision was made during the board meetings held. The termination comes due to changes in the business environment within the electric vehicle market and shifts in supply conditions for certain products.
As a result, plans to strengthen the supply system for lithium-ion secondary battery outer materials in Sweden through the formation of the joint venture have been abandoned. Looking ahead, the company expects the impact on its consolidated performance for the fiscal year ending March 31, 2026, to be minor. However, should there be a need to revise future earnings forecasts, the company will promptly disclose such adjustments. For reference, the company’s forecasted consolidated performance for the fiscal year ending March 31, 2026, and the previous fiscal year's actual results are as follows: | Item | Forecasted FYE March 31, 2026 (Million Yen) | Actual FYE March 31, 2025 (Million Yen) | |------|--------------------------------------------|-----------------------------------------| | Revenue | 45,000 | 43,944 | | Operating Profit | 48,000 | 37,626 | | Ordinary Profit | 43,000 | 22,486 | Note: In the first quarter of the fiscal year ending March 31, 2026, the company finalized provisional accounting treatments related to business combinations, which reflects in the figures for the fiscal year ending March 31, 2025.
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