Musashi Seimitsu Industry Co., Ltd. Reports Consolidated Earnings Results for the First Quarter Ended June 30, 2017; Provides Consolidated Earnings Guidance for the Six Months Ending September 30, 2017 and Fiscal Year Ending March 31, 2018
August 02, 2017
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Musashi Seimitsu Industry Co., Ltd. reported consolidated earnings results for the first quarter ended June 30, 2017. For the quarter, net sales were JPY 56,551 million against JPY 37,417 million a year ago. Operating profit was JPY 3,675 million against JPY 2,325 million a year ago. Ordinary profit was JPY 3,905 million against JPY 592 million a year ago. Profit attributable to owners of parent was JPY 2,133 million against JPY 525 million a year ago. Diluted earnings per share were JPY 62.52 against JPY 15.37 a year ago. Profit before income taxes was JPY 3,845 million against JPY 602 million a year ago.
The company provided consolidated earnings guidance for the six months ending September 30, 2017 and fiscal year ending March 31, 2018. For the six months ending September 30, 2017, the company expects to report net sales of JPY 106,000 million, operating profit of JPY 6,000 million, ordinary profit of JPY 5,700 million and profit attributable to owners of parent of JPY 3,200 million or JPY 102.58 per share.
For the fiscal year ending March 31, 2018, the company expects to report net sales of JPY 213,000 million, operating profit of JPY 13,000 million, ordinary profit of JPY 12,500 million and profit attributable to owners of parent of JPY 7,800 million or JPY 250.05 per share.
Musashi Seimitsu Industry Co Ltd is a Japan-based company mainly engaged in the manufacture and sale of automotive powertrain parts, suspension parts, steering parts, and transmission parts. The Company operates its business through five geographical segments: Japan, Americas, Asia, China and Europe. Its products are used in industries such as automobiles, machine tools, and industrial machines. Powertrain (PT) products includes planetary gear assemblies, differential gear assemblies, bevel gears, ring gears, camshafts, and balance shafts. The linkage and suspension (L&S) products include suspension arm assemblies, suspension ball joints, steering ball joints, and various joints for connection. Motorcycle products include motorcycle transmission gear assemblies, motorcycle camshafts, motorcycle kick starter components, other motorcycle drivetrain components, and general-purpose engine components.
Musashi Seimitsu Industry Co., Ltd. Reports Consolidated Earnings Results for the First Quarter Ended June 30, 2017; Provides Consolidated Earnings Guidance for the Six Months Ending September 30, 2017 and Fiscal Year Ending March 31, 2018