Profits, Sales Down for OKI, but Some Improvement in Printer Business

Last week, Oki Electric Industry Company of Tokyo, Japan, reported financial results for the nine months ending on December 31, 2017, with net sales down 1.6 percent, and the company reporting a loss of 138.05 billion yen, versus a loss of 64.92 billion yen for the same period a year earlier.

OKI says that, overall, its business plan is proceeding according to its plan, and it expects to complete its reformation of its printer business by the end of its fiscal year, which is in March 2018. Within its printer business, sales were “roughly as planned,” although sales declined somewhat year-over-year, with printer sales down 1.8 percent to 80.2 billion yen year-over-year. However, operating income for OKI’s  printer business increased year-over-year, with operating income for its printer business totaling 2.0 billion yen, versus a loss of 0.7 billion yen for the same period a year previously.

For its full fiscal year that will end in March 2018, OKI is forecasting net sales of 455.0 billion, versus 451.60 billion yen for the previous fiscal year, and operating income of 13.0 billion yen, versus 2.5 billion yen for the previous fiscal year.

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