OKI projects turnaround amid fiscal challenges
May 10, 2024
Despite a 59% drop in operating income, OKI aims for a 19.2% revenue boost in fiscal 2024.
OKI has released its financial results for the 2023 fiscal year, ending 31 March 2024. Despite achieving net sales growth of 4.8% to ¥369.1 billion ($2.47 billion/ €2.25 billion), the company saw operating income drop by 59% to ¥2.4 billion ($0.02 billion/ €0.01 billion), leading to a net loss of ¥-2.8 billion (-$0.02 billion/ -€0.02 billion). These declines were attributed to rising costs and a challenging global economic environment.
Despite the printer segment, a core business unit, experiencing pressure during the fiscal year, it remains a strategic priority in OKI’s long-term plan, underscoring the company’s focus and direction. Looking ahead to the 2024 fiscal year ending March 31, 2025, OKI forecasts a significant turnaround????.
Despite recent challenges, OKI maintains a positive outlook, remaining optimistic about its strategic growth plan. This comprehensive plan includes enhancing profitability through business efficiency measures and restructured operations, further reinforcing OKI’s commitment to its stakeholders??.
Categories : City News
Tags : Business Financials OEM OKI
