OKI Electric Industry released its financial result for the fiscal year end March 31, 2017 with a significant decrease in profits and income due to a transient factor.
The company’s net sales have fallen ¥38.7 billion yen (US$340 m), and its operating income has also seen a ¥16.1 billion yen (US$143 m) decline comparing to last year. Its profit attributable to owners of the parent was ¥4.7 billion yen (US$41 m), a ¥1.9 billion yen (US$17 m) decline compared to the last.
Nonetheless, OKI has secured profits for its printer business through the improvement of product mix and thorough review of fixed, although its sales have decreased. The OEM has reported a year-on-year decrease of ¥12.2 billion yen (US$108 m) in printer sales, but still managed to sweep in a ¥1 billion yen (US$8.9m) income from the business.
Despite its lackluster performance in this past fiscal year, the company has projected a promising incoming fiscal year. OKI predicts its net sales and operating income are expected to see a slight uptick for the next fiscal year. However, its printer business might see a decline due to the continuous decline in demands of office printers.