OKI Reports Upbeat Fiscal-Year Results

OKI Electric Industry Company of Japan today reported results for its fiscal year that ended on March 31, 2019, with net sales, operating income, and income all increasing versus the previous year and versus OKI’s projections.

Net sales were ¥441.5 billion, up 3.5 percent; operating income was ¥17.5 billion, up 9.8 percent; and profits were ¥8.5 billion, up 2.5 percent, with all versus the previous fiscal year.

Net sales of printers declined, but there was improved profitability. Net sales for the Printer group were ¥102.6 billion, down 6.3 percent versus the previous fiscal year.

However, operating income for the printer group increased, due to favorable foreign-currency exchange rates and reduced costs. Operating income for the group was ¥5.7 billion, up 3.0 percent versus the previous fiscal year.

OKI says its total operating income “drastically improved” due to changes in its product mix as well as cost reductions.

Forecast

For its fiscal year that will end on March 31, 2020, OKI projects that net sales will be up 8.5 percent; operating income will be up 1.0 percent; and profits up 5.6 percent, with all versus the previous fiscal year.

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