Brother Reported Lower Printing Equipment Sales in Q1 2024

Brother Reported Lower Printing Equipment Sales in Q1 2024

Brother released its financial results for the first quarter of fiscal year 2024, spanning from April to June.

Same as many other Japanese enterprises, Brother has benefited from the positive foreign exchange effects, resulting in a sales revenue of JPY ￥214.7 billion (USD $1.46 billion) up by 7.1%. However, business segment profit remained relatively flat compared to the same period last year, which was mainly attributed to a lower sales in printing solutions and higher SG&A expenses. Consequently, business segment profit amounted to JPY ￥22.8 billion (USD $0.16 billion), down by 1.4% year-on-year.

Breaking down by segment, printing & solutions segment remained the prominent business of Brother, accounting for more than half of its total sales revenue. Sales revenue for the first quarter recorded JPY ￥134.3 billion (USD $0.91 billion), with JPY ￥116.9 billion (USD $0.79 billion) accountable to communication and printing equipment. Sales of laser printers and inkjet consumables saw declines in European and American markets, while other products improved steadily. Although sales of devices and consumables decreased in the first quarter, the impact was offset by favorable yen depreciation.

Regarding forecast for the fiscal year, Brother has made no adjustments to its financial forecasts released on May 9, 2024, including exchange rate precondition and segment breakdown. Total sales revenue is anticipated to reach JPY ￥880 billion (USD $5.98 billion), with printing & solutions segment contributing JPY ￥522.8 billion (USD $3.55 billion). Profits, including business segment profit and operating profit, are expected to grow profoundly in this fiscal year.

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