Brother Reports Mixed Results for FY 2020
Although business segment profit reached an all-time high, Brother operating profit and net income decreased significantly in the fiscal year 2020 due to the recording of an impairment loss on goodwill.
According to Brother, business segment profit increased 16.6% year-over-year to JPY￥78.076 billion (US$717.38 million), however, sales revenue dropped 0.9% year-over-year to JPY￥631.812 billion (US$ 5.81 billion) for the fiscal year ended March 31, 2021. Operating profit decreased 36.5% year-over-year to JPY￥42.731 billion (US$392.63 million).
Other highlights include:
- Profit for the period attributable to owners of the parent company down 50.5% to JPY￥520 billion (US$225.30 million),
- Profit before income taxes dropped 36.0% to JPY￥944 billion (US$394.60 million),
- Comprehensive income for the period increased 250.4% to JPY￥474 billion (US$638.37 million).
In Printing & Solutions segment, revenue totalled to JPY￥384.766 billion (US$3.54 billion) in the fiscal year 2020, down JPY￥5.92 billion (US$54.40 million) comparing with last year. Operating profit registered JPY ￥60.989 billion (US$560.36 million), up JPY￥3.91 billion (US$35.92 million).
Effects such as disruptions in the global supply chain mainly in the Printing & Solutions business are incorporated as risk factors into the forecast for fiscal year 2021, and a decline in both revenue and business segment profit is projected.
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