By Kosaku Narioka
Ai Holdings shares gained early Monday after the Japanese security-equipment company projected a 13% increase in operating profit this fiscal year and set the payout-ratio goal of at least 50%.
The shares were recently 8.4% higher at 2,385 yen after rising as much as 9.0% earlier.
Ai Holdings said Friday after market close that net profit climbed 6.5% to Y8.24 billion ($56.7 million) for the fiscal year ended June 30 on greater earnings from its security-equipment business.
Revenue declined 1.4% to Y46.40 billion due partly to the divestment of certain card businesses. A shortage of chips and economic slowdown in the U.S. and Europe also weighed on sales of its business of cutting plotters and label-printing systems.
Ai Holdings projected revenue would increase 14% to Y53.00 billion and operating profit would rise 13% to Y10.70 billion in the new fiscal year that started in July.
The company also said it would aim to return at least half of its earnings to shareholders annually and projected Y90.00 in dividend per share this fiscal year, up from Y80.00 last fiscal year. It didn’t have a numeric payout goal previously.
Write to Kosaku Narioka at [email protected]
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