OKI Reports Loss in FY2020
OKI reported net sales decreased 14.1% year-over-year to JPY￥392.9 billion (US$61.16 billion) for the fiscal year 2020 that ended March 31, 2021.
The OEM predicted that the impact of COVID-19 was a decrease of approximately JPY￥27.0 billion (US$4.2 billion) in net sales and a decrease of approximately JPY￥6.5 billion (US$1.01 billion) in operating income.
Some other highlights include:
- Operating income was JPY￥5 billion (US$1.48 billion), a decrease of JPY￥7.3 billion (US$1.14 billion) year-over-year.
- Ordinary income was JPY￥4 billion (US$1.46 billion), a decrease of JPY￥4.4 billion (US$684.97 million) year-on-year.
- Net loss attributable to owners of parent was JPY￥2 billion (US$31.14 million)，due to the recording of JPY￥4.6 billion (US$716.10 million) in business restructuring expenses.
Look at the business segment, components & platforms net sales turned out to be JPY￥196.5 billion (US$30.59 billion), a year-on-year decrease of 9.1%. The structural reform of printers has progressed as planned, and its effects are beginning to contribute. However, the impact of lower overseas sales was significant, resulting in an operating loss of JPY￥0.1 billion (US$15.57 million), a year-on-year deterioration of JPY￥5.3 billion (US$825.07 million).
As for outlook on the fiscal year 2021 ending March 31, 2022, OKI predicts that net sales will increase JPY￥7.1 billion (US$1.11 billion) year-on-year to JPY￥400.0 billion (US$62.27 billion), and operating income will increase JPY￥2.5 billion (US$389.19 million) to JPY￥12.0 billion (US$1.87 billion). Oridinary income is expected to increase to JPY￥12.0 billion (US$1.87 billion), and profit attributable to owners of parent is expected to increase to JPY￥3.5 billion (US$544.86 million).
Please leave your comments below for the news story “OKI Reports Loss in FY2020”