Much Improved Results for OKI’s First Half

On November 7th, OKI Electric Industry of Tokyo, Japan, reported results for the first half of its fiscal year. This first half ended on September 30, 2019, with OKI’s complete fiscal year ending in March 2020.

For the first half, OKI reported net sales of ¥218.4 billion, up 12.8 percent; operating income of ¥5.2 billion, up 545.6 percent (OKI had reported operating income of 0.8 billion for its first half a year earlier); and profits of ¥4.1 billion, versus a loss of 2.6 billion for the same period a year earlier.

Overall, OKI said operating income increased due to the impact of structural reforms, as well as sales increases. These sales increases were generated by its ICT group. All other groups (Mechatronics Systems, Printers, EMS, and the Others group) reported lower sales year-over-year).

Printer Group

Sales generated by OKI’s Printer group for the first half declined. According to OKI, this mainly due to lower sales in Europe and a stronger Japanese yen versus the Euro. Printer sales for the first were ¥47.0 billion, down ¥3.8 billion year-over-year. Operating income was ¥2.1 billion, down ¥0.8 billion year-over-year.

For its complete fiscal year that will end in March 2020, OKI is forecasting that net sales for its Printer group will be ¥96.0 billion, versus its previous forecast of ¥104.0 billion, and operating income will be ¥4.0 billion, versus its previous forecast of ¥7.0 billion.

Forecast

OKI  slightly revised its forecast, forecasting higher sales. It’s now forecasting net sales of ¥460.0 billion, up ¥10 billion versus its previous forecast (and versus ¥441.5 billion for the previous fiscal year); operating income of ¥18.5 billion, the same as its previous forecast (and versus ¥17.5 billion for its previous fiscal year); and profits of ¥14.0 billion, the same as its previous forecast (and versus ¥8.4 billion versus its previous fiscal year).

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