Sales down but income up for Oki
November 2, 2018
The company has released its financial results for the first half of the current fiscal year, with a decidedly mixed picture emerging.
Oki’s net sales in the first six months of the year (ending September the 30th) reached ¥193.6 billion ($1.715 billion/€1.498 billion), a slight drop on the figure of ¥194 billion ($1.719 billion/€1.501 billion) recorded in the same period of last year.
Operating income, however, rose to ¥800 million ($7.08 million/€6.19 million), a substantial improvement on last year’s ¥4.1 billion ($36.3 million/€31.7 million) loss.
Ordinary income remained in the negative, at minus ¥800 million ($7.08 million/€6.19 million), but this too was an increase from last year’s loss of ¥3.3 billion ($29.2 million/€25.5 million).
This story was broadly replicated in the results just for Oki’s Printers segment, where net sales fell to ¥50.8 billion ($450.1 million/€393 million) from ¥51.8 billion ($459 million/€400.8 million) in the first half of last financial year. Again, however, operating income rose, hitting ¥2.9 billion ($25.7 million/€22.4 million) from last year’s ¥600 million ($5.31 million/€4.64 million). The company attributed this to “the improvement in structure of fixed cost and the impact of currency exchange.”
Categories : City News
Tags : Business Financials Half-Year Japan OKI
