Difficult Fiscal Year for OKI, Cites Decline in Office Printing, Strong Yen
This week, OKI Electric Industry of Japan released financial results for its fiscal year 2017 that ended on March 31, 2017, reporting 451.6 billion yen in net sales, a 13.4 percent decline, operating income of 2.5 billion yen, an 86.3 percent decline, and profits of 4.6 billion yen, a 1.9 percent decline, all versus the previous fiscal year.
Net sales for OKI’s printer segment were 112.4 billion yen, down 2.6 percent versus the previous fiscal year, with OKI stating: “Sales decreased due to the impact of continuing decline in printing demands in offices in addition to the impact of currency exchange”.
For its current fiscal year, OKI is expecting net sales and operating income to be similar to net sales and operating income for its fiscal 2017 year, projecting net sales of 455.0 billion yen and profits of 8.0 billion yen. For its printer segment, it’s projecting net sales of ¥106 billion ($95 million U.S.) for the fiscal year 2018.
- February 2017: OKI Reports Loss for Nine-Month Period, Cites Yen, Decline in Demand for Office Printing
- November 2016: OKI Records Extraordinary Loss for First Half, Cuts Full-Year Forecast
- August 2016: Loss for Oki’s First Quarter, Cites Sharply Appreciated Yen
- May 2016: Sales, Profits Down for OKI’s Fiscal Year; Stronger Japanese Currency Seen as Culprit
- February 2016: OKI Struggles through Difficult Quarter, But Forecast Unchanged
- November 2015: Small Decline in Sales for OKI’s First Half, But Profits Slide; Will Expand Professional-Printer Business
- October 2015: OKI Sets Up New Wide-Format Printer Company with Acquisition of Seiko I Infotech’s Printer Business
- August 2015: Slight Dip in Printer/MFP Revenue for OKI’s First Quarter, but Total Sales Up