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.

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