OKI Reports Impairment Loss, But Increases Fiscal Forecast

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OKI Electric Industry Company of Japan reported on April 26th that it’s recorded a ¥2.9 billion yen impairment loss related to its Mechatronics Systems business as an extraordinary loss.

However, despite the impairment loss, OKI increased its forecast for its fiscal year that ended on March 31, 2019. OKI is now projecting:

  • Net sales of ¥441.0 billion, up 0.2 percent versus its previous forecast.
  • Operating income of ¥17.5 billion, up 2.5 percent versus its previous forecast.
  • Earnings of ¥8.5 billion, up 70 percent versus its previous forecast.

OKI will announced the results for its fiscal year that ended on March 31, 2019 on May 9, 2019.

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