Rise in Profits and Sales for Japanese Company OKI

Japanese company OKI have released their financial figures for the latest first half (the six months leading to September 2019) as well as newly modified projected figures for their overall financial performance in the financial year ending March 2020. The figures show a growth in sales and profits that contrast with the financial performance of other Japanese corporations who manufacture printing products, such as Brother and Kyocera, both of who have seen profits fall.

Net sales have risen significantly in comparison with the previous first half (the six months leading to September 2018). The company has recorded a 12.8% increase of 24.8 billion yen in net sales. Meanwhile, operating income has risen drastically by 545.6% from 0.8 billion yen in the previous first half to 5.2 billion yen in the current first half. Total assets have increased by 1.4% and net assets have increased by 5.8%.

The jump in net sales is largely down to increased sales of ICT; other products sold by OKI have seen decreased sales figures. ICT sales increased by 35.3% compared with the previous first half, which OKI attributes to more government agency and social infrastructure projects. On the other hand, sales of printers decreased by 3.8% compared with the previous first half, which is largely down to the general downward trend in demand from Europe as well as depreciation of the yen.

These positive financial results have been attributed to several factors by the company. Some large projects have contributed to the increase in net sales, for example. Meanwhile, structural reforms that were put in place in reaction to the previous years financial figures have borne fruit and led to a higher operating income (which has also been helped by higher sales levels). In light of these healthy net sales and profit figures, OKI have revised their predictions for the end of the financial year: they are now predicted an extra 10 billion yen to be made in total net sales.