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
