Tuesday, November 5, 2024
Income Down but Profits Up for OKI
Income Down but Profits Up for OKI
In fiscal 2019 which ended in March 2020, the OKI Group saw strong progress in the ICT business and net sales rose JP¥15.7 billion (USD$147 million) to JP¥457.2 billion (USD$4.28 billion).
In their report, operating income decreased by JP¥0.7 billion (USD$6.55 million) year-on-year to JP¥16.8 billion (USD$158.27 million), and ordinary income decreased by JP¥1.7 billion (USD$15.92 million) year-on-year to JP¥13.8 billion (USD$129.20 million), due to the negative impact of foreign exchange rates and the suspension of operations at the Shenzhen Plant caused by the spread of COVID-19.
Profit attributable to owners of the parent increased by JP¥5.7 billion (USD$53.36 million) year-on-year to JP¥14.1 billion (USD$132.00 million), mainly due to gains of JP¥4.8 billion (USD$44.93 million) on sales of real estate and JP¥4.7 billion (USD$44.00 million) on sales of cross-shareholdings, despite recording business structure improvement expenses of JP¥2.4 billion (USD$22.46 million).
By segment, printers reduced JP¥10.3 billion (USD$96.40 million) to JP¥92.3 billion (USD$863.86 million).
“As for a year-end dividend for fiscal 2019, we plan to pay 50 yen per share,” said President Shinya Kamagami (pictured).
“Going forward, OKI will challenge to create businesses to meet the needs of customers by integrating our technologies of network, sensing, data processing and analysis, as we progress our highly-reliable manufacturing technologies further,” he added.
Like other OEMs, OKI says it cannot determine the outlook for fiscal 2020 as it is difficult to reasonably estimate the impact of COVID-19 at this time.
Related:
- Profits Cut and Forecasts Sharpened by Sharp
- Profits Cut and Forecasts Sharpened by Sharp
- Printer Sales Worse Than Expected in Western Europe
- Ricoh Faces Downturn in Office Printing
- Konica Minolta Also Revises Financial Forecasts
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