NHK Spring Co., Ltd. Reports Consolidated Earnings Results for the Six Months Ended September 30, 2016; Provides Consolidated Earnings Guidance for the Year Ending March 31, 2017
November 18, 2016 at 08:34 am EST
Share
NHK Spring Co., Ltd. reported consolidated earnings results for the six months ended September 30, 2016. For the quarter, the company reported net sales of JPY 299,643 million compared to JPY 311,123 million a year ago. Operating income was JPY 16,766 million compared to JPY 15,541 million a year ago. Ordinary Income was JPY 14,071 million compared to JPY 17,078 million a year ago. Profit attributable to owners of parent was JPY 10,218 million compared to JPY 11,309 million a year ago. Diluted net income per share was JPY 41.29 compared to JPY 45.70 a year ago. Profit before income taxes was JPY 14,776 million compared to JPY 17,009 million a year ago.
For the year ending March 31, 2017, the company expects consolidated net sales to be of JPY 621,000 million. Operating income expected to be of JPY 33,000 million. Ordinary income expected to be of JPY 34,000 million. Net income attributable to owners of parent expected to be of JPY 22,000 million. Basic net income per share expected to be of JPY 90.58.
NHK SPRING CO., LTD. is a Japan-based company mainly engaged in the manufacture and sale of suspension springs, seat products and automobile-related products. It has four business segments. The Suspension Springs segment manufactures and sells coil springs, board springs, stabilizers, torsion bars, stabilizer links, bellows, and stabilizer linkers. The Seating segment offers automobile seats, seat-related products, as well as interior equipment. The Precision Component segment offers suspensions for hard disk drives (HDDs), mechanism parts for HDDs, wire springs, lamella springs, probe units for liquid crystal and semiconductor checking, as well as precision processed goods. The Industrial Equipment segment manufactures and sells brazing goods, ceramic products, spring mechanism goods, piping support installations, parking systems, polyurethane products, security products, lighting apparatus and golf shafts and others.
NHK Spring Co., Ltd. Reports Consolidated Earnings Results for the Six Months Ended September 30, 2016; Provides Consolidated Earnings Guidance for the Year Ending March 31, 2017