Happinet Corporation announced consolidated earnings results for the first quarter ended June 30, 2016. For the quarter, the company reported net sales of JPY 32,757 million compared with JPY 37,300 million for the same period a year ago. Operating income was JPY 152 million compared with JPY 779 million for the same period a year ago. Ordinary income was JPY 95 million compared with JPY 794 million for the same period a year ago. Profit before income taxes was JPY 88 million compared to JPY 793 million for the same period a year ago. Profit attributable to owners of parent was JPY 26 million or JPY 1.16 per diluted share compared with JPY 471 million or JPY 20.55 per diluted share for the same period a year ago.

The company provided dividend guidance for the year end of fiscal year 2017. For the period, the company expects to pay dividend of JPY 15.00 per share against same amount a year ago.

The company provided dividend guidance for the second quarter of fiscal year 2017. For the period, the company expects to pay dividend of JPY 15.00 per share against same amount a year ago.

For the first half of 2017, the company expects to report net sales of JPY 80,000 million, operating income of JPY 1,500 million, ordinary income of JPY 1,500 million and net income of JPY 1,000 million or JPY 44.09 per share.

For the fiscal year 2017, the company expects to report net sales of JPY 190,000 million, operating income of JPY 4,000 million, ordinary income of JPY 4,000 million and net income of JPY 2,600 million or JPY 114.63 per share.