Oki’s net sales fall short of forecast

May 11, 2021

The company has released its full year 2020 results, stating net sales fell short of forecast due to the prolonged COVID-19 impact.

Oki recorded net sales of ¥392.9 billion ($3.6 billion/ €3 billion) for the FY2020 period which is a year-on-year decrease of ¥64.3 billion ($591 million/ €485 million). For the Component & Platforms business segment which includes its printers net sales were ¥196.5 billion ($1.8 billion/ €1.5 billion) which was a small decrease of 9.1% or ¥19.8 billion ($182 million/ €149 million) year-on-year decrease.

Oki explained that it saw a strong impact from COVID-19 in overseas markets, particular in printers. The company added that the structural reform of printers has progressed as planned and is beginning to contribute, but the lower overseas sales was significant.

Categories : City News

Tags : Business Financials OKI Sales