Shares of Orix Corp (IX) plummeted 5.85% in Wednesday's intraday trading, underperforming the broader market. The sharp decline in the Japanese financial services company's stock came after it released a disappointing earnings forecast for the fiscal year ending March 2025.
According to the forecast, IX Knowledge Inc., a subsidiary of Orix Corp, expects its net profit for the year to be ¥1.22 billion, which is lower than the market's expectations. The company also projected a decline in operating profit and pre-tax profit compared to the previous year.
The weak earnings guidance has raised concerns among investors about Orix Corp's future profitability and growth prospects, leading to the significant sell-off in its shares. Analysts are closely monitoring the company's performance and may revise their recommendations and target prices based on the updated financial projections.
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