Fujicco<2908> fell again. At Tokai Tokyo Securities, the investment rating has been downgraded from 'Neutral' to 'Underperform' and the target stock price has been lowered from 1970 yen to 1390 yen. The operating profit for the fiscal year ending March 2025 is expected to decrease by 62.8% compared to the previous year, to 0.57 billion yen, and is significantly lower than the company's plan of 2 billion yen. At this profit level, there is a possibility that free cash flow will be negative and that dividend coverage will exceed 100% as in the previous year, leading to the assumption of a depletion of retained earnings. The risk of a negative chain reaction in evaluating the company has emerged.
フジッコ---続落、国内証券では業績下方修正で投資判断を格下げ
Fujikko - continued decline, with downward performance revisions in domestic securities leading to a downgrade in investment judgment.
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