Tokyo Gas ups profit, dividend forecast ahead of Q3 results
TOKYO, Jan 31 (Reuters) - Japan's Tokyo Gas on Wednesday raised its net profit and dividend forecast for the year ending in March 2024, ahead of posting third quarter results later this week.
The company now expects net profit at 141 billion yen ($956 million), up from 116 billion yen guided in October and 101 billion set in July. Its annual dividend would rise by 5 yen to 70 yen per share, it added.
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"We revised our FY2023 earnings forecasts mainly reflecting our performance in 3Q FY2023 and recent energy price trends," Tokyo Gas said. The company is due to disclose its quarterly results on Feb. 2.
Tokyo Gas shares closed 2.78% up on Wednesday, outperforming the Nikkei index .N225 which was 0.61% up.
($1 = 147.5200 yen)
(Reporting by Katya Golubkova; editing by Miral Fahmy)