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OKI sees sluggish sales

OKI sees sluggish sales

July 31, 2020

The OEM announced its financial results for the first quarter of the full year ending 31 March 2021.

OKI recorded a decrease of ¥26.2 billion ($250.46 million/ €211.25 million) in net sales for the quarter ending 30 June to ¥81.4 billion ($778.38 million/ €656.31 million). The OEM estimates the impact from COVID-19 to be in the region of ¥11 billion ($105.19 million/ €88.69 million), adding that “sales were sluggish in overseas markets affected by the spread of COVID-19” having an overall impact on its profits due to the sales decline.

Its Components & Platforms segment, which now includes printers, recorded sales of ¥40 billion ($382.52 million/ €322.52 million) for the first quarter, a decline of ¥11.6 billion ($110.93 million/ €93.53 million).

In its forecasts, OKI expects sales in the Components & Platforms segment to remain sluggish due to the continued COVID-19 situation, estimating full year sales to be ¥205 billion ($1.96 billion/ €1.65 billion) for the segment. OKI estimates the impact of COVID-19 on the full year to be in the region of ¥20 billion ($191.25 million/ €161.25 million).

Categories : City News

Tags : Business Financials OEM OKI

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