bullish
Olympus Corp (7733 JP): Started FY23 on a Strong Note Thanks to Favorable Foreign Exchange Rate
343 Views16 Aug 2022 08:47
SUMMARY
- Olympus Corp (7733 JP) reported double-digit revenue and operating profit growth in Q1FY23, thanks to favorable foreign exchange rate. Adjusting for FX, revenue was flat compared to year-ago period.
- Based on favorable foreign exchange rate, management has raised FY23 revenue and operating profit guidance by 5% and 12% to ¥1,019 billion and ¥231 billion, respectively.
- With more than 85% of total revenue coming from international markets, Olympus should remain a prime beneficiary of Japan’s weak currency.
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