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FerroTech - Basic policy decision for the transition to a business company through the merger with a subsidiary.
FerroTech Holdings <6890> announced on the 13th that it has decided to merge with its subsidiary, FerroTech Material Technologies, with the aim of transitioning from a pure holding company to an operating company. This merger aims to concentrate and streamline management resources, with the goal of enhancing the group's enterprise value in the medium to long term. The method of merger will be an absorption merger, with FerroTech Holdings as the surviving company and FerroTech Material Technologies as the dissolved company, effective in 2025.
Ferro Tech --- Change of trade name and partial amendments to the Articles of Incorporation.
FerroTec Holdings <6890> announced on the 13th that it will change its company name to "FerroTec Corporation," and in conjunction with this, a partial amendment to its articles of incorporation will be made. This change in company name is due to the merger with its subsidiary, FerroTec Material Technologies, transitioning from a pure holding company to an operating company. The effective date for the company name change and amendment to the articles is scheduled for July 1, 2025. Furthermore, these changes are subject to approval at the regular shareholders' meeting scheduled for June 2025.
Fero Tech --- In the third quarter, there was double-digit revenue growth, achieving double-digit growth excluding QITABANKUAI.
Ferrotec Holdings <6890> announced on the 14th its consolidated financial results for the third quarter of the fiscal year ending March 2025 (April to December 2024). Revenue increased by 20.3% compared to the same period last year to 202.365 billion yen, operating profit decreased by 5.9% to 19.696 billion yen, ordinary profit decreased by 11.8% to 20.516 billion yen, and the quarterly net profit attributable to shareholders decreased by 6.3% to 12.612 billion yen. Revenue from the semiconductor and related equipment business was 122.784 billion yen (25% increase compared to the same period last year).
Tokio Marine raised its forecast on March 25, with ordinary profits projected at 1 trillion 380 billion yen, up from 1 trillion 240 billion yen.
Tokyo Marine <8766> announced a revision of the performance forecast for the fiscal year ending March 2025. Operating profit was revised upward from 1 trillion 240 billion yen to 1 trillion 380 billion yen, and net profit was raised from 880 billion yen to 1 trillion yen. Although the loss ratio related to Autos in the domestic insurance business is deteriorating, the sale of policy Stocks is expected to accelerate more than previously anticipated. The sales amount of policy Stocks is projected to be approximately 912 billion yen for the full year, increasing by 162 billion yen from the previous forecast. 【Positive Evaluation】 <8766> Tokyo Marine Quarterly | <4449> Giftie Full Year <2503> K
Ferrotec Holdings Reports Strong Sales Amid Profit Decline
Ferrotec Holdings: Summary of Financial Results for the 3rd Quarter of the Fiscal Year Ending March 31, 2025 [Japanese GAAP] (Consolidated)