Dowa Holding has revised its sales forecast for the fiscal year ending March 31, 2021, to JPY582.8bn ($5.3bn) at a 3.4pc increase from the previous forecast of JPY563.6bn.
The company’s forecast for operating income has also increased by 18.5pc to JPY37.1bn for FY2021 from JPY 31.2bn.
Dowa has lifted its nonferrous metals division’s sales forecast by 5pc to JPY 278.5bn from JPY 263.6bn while its metal processing division’s projections increased by 3pc to JPY77.3bn from JPY75.5bn.
The company cited increased demand in the automobile sector and recovery in other industries since the second quarter of the fiscal as the reasons for the raised projections.
($1=JPY 108.69)