Koito Manufacturing Co. Ltd. Reports Consolidated Earnings Results for the First Quarter Ended June 30, 2017; Revises Consolidated and Non-Consolidated Earnings Guidance for First Half and Fiscal Year of 2018
July 27, 2017 at 05:00 am EDT
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Koito Manufacturing Co. Ltd. reported consolidated earnings results for the first quarter ended June 30, 2017. For the quarter, the company reported net sales of ¥219,340 million, operating income of ¥23,283 million, recurring profit of ¥24,491 million and profit attributable to owners of parent of ¥14,600 million or ¥90.82 per diluted share compared to net sales of ¥187,405 million, operating income of ¥17,295 million, recurring profit of ¥16,859 million and profit attributable to owners of parent of ¥10,002 million or ¥62.22 per diluted share reported in the same period last year. Income before income taxes was ¥22,807 million compared to ¥16,739 million a year ago. Net cash provided by operating activities was ¥30,269 million compared to ¥32,337 million a year ago. Acquisition of property and equipment was ¥9,477 million compared to ¥7,873 million a year ago. Net assets per share was ¥2,164.72 compared to ¥2,090.87 a year ago.
For the first half, on consolidated basis, the company expects net sales of ¥433,000 million, operating income of ¥47,000 million, recurring profit of ¥49,000 million and profit attributable to owners of parent of ¥28,000 million and net income per share ¥174.24 per share against its previous forecast of net sales of ¥418,000 million, operating income of ¥42,000 million, recurring profit of ¥43,000 million and profit attributable to owners of parent of ¥25,000 million and net income per share ¥155.58 per share.
For the full year ending March 2018, on consolidated basis, the company expects net sales of ¥876,000 million, operating income of ¥96,000 million, recurring profit of ¥99,000 million and profit attributable to owners of parent of ¥60,000 million and net income per share ¥373.38 per share against its previous forecast of net sales of ¥861,000 million, operating income of ¥91,000 million, recurring profit of ¥93,000 million and profit attributable to owners of parent of ¥57,000 million and net income per share ¥354.71 per share.
For the first half, on non-consolidated basis, the company expected net sales of ¥161,000 million, operating income of ¥18,000 million, recurring profit of ¥30,000 million and net income of ¥20,000 million and net income per share ¥124.46 per share against its previous forecast of net sales of ¥154,000 million, operating income of ¥14,000 million, recurring profit of ¥26,000 million and net income of ¥18,000 million and net income per share ¥112.01 per share.
For the full year ending March 2018, on non-consolidated basis, the company expected net sales of ¥330,000 million, operating income of ¥35,000 million, recurring profit of ¥52,000 million and net income of ¥36,000 million or ¥224.03 per share against its previous forecast of net sales of ¥323,000 million, operating income of ¥31,000 million, recurring profit of ¥48,000 million and net income of ¥34,000 million or ¥211.58 per share.
KOITO MANUFACTURING CO., LTD. is mainly engaged in the manufacture and sale of automotive lighting equipment, aircraft parts, railway vehicles parts, electrical equipment and measuring equipment. The Company mainly operates in six segments, including Japan, China, Asia, North America, Europe and Others. The Companyâs major products include light-emitting diode (LED) head lamps, discharge head lamps, headlights, sign lamps, high mount stop lamps, halogen bulbs, miniature bulbs and other lamp fittings, control equipment for rail vehicles, roads traffic signals, traffic control systems, roads and tunnels illumination lamps, facilities illumination lamps, accommodation equipment, aircraft parts, electronic parts, head lamps cleaners, sheets for aircraft and rail vehicles, as well as environment control equipment. The Company is also engaged in the development and manufacture of forward monitoring operation support systems for advanced driver-assistance systems (ADAS) through subsidiary.
Koito Manufacturing Co. Ltd. Reports Consolidated Earnings Results for the First Quarter Ended June 30, 2017; Revises Consolidated and Non-Consolidated Earnings Guidance for First Half and Fiscal Year of 2018