OKI reports drop in net sales

May 9, 2018

The company has posted its financial results for FY2018, and revealed a drop in net sales, but an increase in both operating and ordinary income.

OKI has revealed its latest financial results for the last fiscal year, ending March 2018, reporting net sales of ¥438 billion ($3.9 billion/€3.3 billion), a decrease from last year’s reported figure of ¥451.6 billion ($4.1 billion/€3.4 billion).

The OEM also explained that its operating income had increased year-on-year, rising from ¥2.5 billion ($22.7 million/€19.1 million) in FY2017 to ¥7.7 billion ($70.1 million/€59.1 million) in FY2018, but that this figure “fell short of our projection”.

In terms of printers, OKI stated that “Sales were roughly as expected, although performance was affected by yen depreciation.” The company’s printing division achieved sales of ¥108.9 billion ($992.6 billion/€835.8 billion) by the end of FY2018, beating OKI’s previous projection of ¥106 billion ($966.4 billion/€813.5 billion). In addition, operating income from this sector “improved year on year due to the effect of foreign exchange rates and structural reforms.”

Looking ahead to FY2019, OKI cites its main goal as getting back “on a sustainable growth path”.

When it comes to printers, the company hopes to “increase new sales in the industry printing market” and is aiming to funnel ¥2 billion ($18.2 million/€15.3 million) into R&D for its printing division.

OKI also stated that it “expects net sales, operating income, and ordinary income to increase year on year” in FY2019.