Akebono Brake Industry Co. Ltd. announced unaudited consolidated earnings results for the first quarter ended June 30, 2016. For the quarter, the company reported net sales of JPY 67,043 million compared to JPY 69,317 million a year ago. Operating loss was JPY 1,031 million compared to JPY 15 million a year ago. Ordinary loss was JPY 2,260 million against JPY 313 million a year ago. Loss before income taxes was JPY 2,240 million against JPY 296 million a year ago. Net loss attributable to owners of the parent was JPY 3,065 million compared to JPY 1,058 million a year ago. Basic loss per share was JPY 23.04 against JPY 7.96 a year ago. Net cash provided by operating activities was JPY 1,941 million compared to JPY 5,452 million a year ago. Purchase of property, plant and equipment was JPY 3,774 million against JPY 5,168 million a year ago. Net interest-bearing debt as on June 30, 2016 was JPY 100,139 million against JPY 99,352 million as on June 30, 2015.

For the first half of 2016, the company expects net sales of JPY 136,000 million, operating loss of JPY 1,400 million, ordinary loss of JPY 2,300 million, net loss attributable to owners of the parent of JPY 2,400, and basic loss per share of JPY 18.03.

For the full year 2016, the company expects net sales of JPY 271,000 million, operating income of JPY 1,600 million, ordinary income of JPY 100 million, net loss attributable to owners of the parent of JPY 200, and basic loss per share of JPY 1.50.