Oki’s latest financial results
May 10, 2019
Oki Electric Industry Co., Ltd released its latest financial results for the fiscal year ending 31 March 2019.
In the companies “review of business performance” the printer segment is said to have shown a “stable performance under the improved profitability”, for the fiscal year ending 31 March 2019.
Net sales for Oki were slightly up to ¥441.5 billion ($4.020 billion/ €3.578 billion) an increase of 3.5 percent compared to the same period of the previous fiscal year. Operating income was up 9.8 percent with ¥17.5 billion ($159.345 million/ € 141.847 million) compared to the previous period.
In its printer business segment, the net sales were down 6.3 percent at ¥102.6 billion ($934.230 million/ € 831.607 million). Oki described this “decreased due to the absence of big project recorded in the previous fiscal year and etc.”, however operating income for this segment was increased by three percent to ¥5.7 billion ($51.9 million/ € 46.2 million). This increase Oki attributes to foreign exchange rates and improvements of its fixed costs.
Oki’s forward projections are to further increase total net sales to ¥450 billion ($4.097 billion/ € 3.647 billion) by the end of the fiscal year ending 31 March 2020, a total growth of 8.5 percent compared to the fiscal year which ended 31 March 2019.
For its printer business segment, Oki is looking to improve its product mix and proceeding with entering the industrial printing market with new products.
Categories : City News
Tags : Business Financials OEM OKI
