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OKI sees sales drop

October 29, 2020

The company has released its consolidated financial results for the first half of the fiscal year ending 31 March 2021.

OKI recorded net sales of ¥173.5 billion ($1.66 billion/ €1.42 billion), a decrease of ¥44.9 billion ($431 million/ €368 million) for the same period of the previous fiscal year. For its Components & Platforms segment, which now includes printers, for the first half of FY2021, OKI recorded net sales of ¥87.8 billion ($843 million/ €720 million), a decrease of ¥20.6 billion ($198 million/ €169 million) year-on-year.

OKI said: “The impact of COVID-19 continued, mainly on overseas markets, and equipment sales remained sluggish.” The company added: “Profits were low due to sluggish sales. Sales mix is in the process of improving.”

OKI is forecasting total net sales for the full year to still be ¥405 billion ($3.89 billion/ €3.32 billion), a decrease of ¥52.2 billion ($501 million/ €428 million), of which the company expects net sales of the Components & Platforms segment to be ¥205 billion ($1.97 billion/ €1.68 billion), a decrease of ¥11.3 billion ($108 million/ €93 million) year-on-year.

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