The OEM has released its FY2020 results, which ended 31 March 2020, recording increased net sales and profits.
For the full year 2020 overall net sales were ¥457.2 billion ($4.27 billion/ €3.93 billion), slightly lower than the expected projected sales set on 7 February but still a year-on-year increase from the previous year where net sales were ¥441.5 billion ($4.13 billion/ €3.79 billion).
Oki’s printer section declined from ¥102.6 billion in the previous year to ¥92.3 billion in fiscal year 2020. Oki explained that the decline was in the demand in office equipment in Europe and the appreciation of the yen against the Euro.
In its announcement Oki included that “in the area of printers, there is concern that restrictions on outings and the promotion of work from home in Europe and the Americas will lead to a decrease in demand for printing at offices, which will have a significant impact on sales of consumables.” The COVID-19 pandemic has impacted Oki “in terms of overall production, some parts of the supply chain are affected” and since the impact of certain factors are not clear yet, the company decided “to set its forecasts of business results for the fiscal year ending 31 March 2021 as “undecided”.”
Oki said it will continue to monitor the situation.
