OKI Reports Latest Financial Results

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OKI Electric Industry of Tokyo, Japan, reported results for the first half (April 1 to September 30, 2018) of its fiscal year, reporting net sales of 193.6 billion yen, down 0.4 percent year-over-year; operating profits of 0.8 billion yen, up 4.9 percent year-over-year; and a loss of 2.6 billion yen, which was an improvement versus a loss of 4.6 billion yen for the same period a year ago.

Business Segment Results

Printers: Sales exceeded OKI’s expectations, although they slightly declined year-over-year by 1 percent. Operating profit was up 2.3 percent due to improvment in fixed costs and favorable foreign currency exchange rates.

Mechatronics Systems: Sales decreased by 6.9 percent year-over-year. This segment recorded an operating loss of 1.7 billion yen, due to the impact of structural reforms.

ICT: Sales were approximately the same year-over-year. Operating income was up 1.7 percent.

EMS: Sales increased by 8.0 percent year-over-year due to the consolidation of a subsidiary. Operating income was up 1.5 percent due to the consolidation of a subsidiary.

Forecast

For its complete fiscal year that will end in March 2019, OKI is forecasting net sales of 450 billion yen, versus 438 billion yen for the previous fiscal year; operating income of 14.0 billion yen, versus 7.7 billion yen for the previous fiscal year; and profits of 5.0 billion yen, versus 5.9 billion yen for the previous fiscal year.

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