OKI Electric Industry Co., Ltd released their financial result for the fiscal year 2017, ending 31 March 2017 showing a decline of 13.4% in net sales and a fall in operating income of 12.5%.
The OEM released their annual financial results for the fiscal year 2017 which showed a reduction in net sales of 13.4% from ¥490.3 billion (€393 million $437 million) reported for the fiscal year 2016, to ¥451.6 billion (€362 million $402 million) in 2017.
The printer segment “secured profits through the improvement of product mix and thorough review of fixed costs” with net sales of ¥112.4 (€90 million $100 million) down 2.6% on last year. OKI stated: “Sales decreased due to the impact of continuing decline in printing demands in offices in addition to the impact of currency exchange”.
OKI aims to develop its solid base for the future growth and expects for 2018 net sales and operating income to be similar to those in 2017. For the printer segment, the OEM is looking to “focus on securing stable profits by implementing structural reform” and projects net sales of ¥106 billion (€85 million $95 million) for the fiscal year 2018.