NGK Spark Plug Announces Earnings Results for the Third Quarter and Nine Months Ended 31 December 2016; Revises Earnings Guidance for the Fiscal Year 2017
January 31, 2017 at 09:26 am EST
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NGK Spark Plug announced earnings results for the third quarter and nine months ended 31 December 2016. For the quarter, the company has reported a net profit of JPY 15.6 billion, up 20% year on year. The company reported strong growth in net profit despite witnessing 3.4% year on year decline in net sales to JPY 92.6 billion. Lower sales caused the company to record a 24.8% year on year decline in operating profit to JPY 12.8 billion.
For the nine months, sales grew 5% year on year to JPY 272.9 billion, while operating income declined 23.8% year on year to JPY 39.4 billion.
The company revised earnings guidance for the fiscal year 2017. The company now expects sales revenue will reach JPY 400 billion, up from its previous forecast of JPY 385 billion, while its operating income will reach JPY 63 billion, up from the previous forecast of JPY 54 billion.
Niterra Co Ltd is a Japan-based company mainly engaged in the manufacture and sale of automotive products, ceramic products, and products related to new businesses. The Company has three business segments. The Automobile-related segment is engaged in the manufacture and sale of parts that are mainly assembled into automobiles, such as spark plugs and exhaust gas sensors. The Ceramics segment manufactures and sells cutting tools, industrial equipment components, semiconductor manufacturing equipment components, semiconductor packages, and oxygen concentrators for medical use. The New Business segment is engaged in the manufacture and sale of products related to new businesses such as the environmental energy field. It also sells materials and provides welfare services.
NGK Spark Plug Announces Earnings Results for the Third Quarter and Nine Months Ended 31 December 2016; Revises Earnings Guidance for the Fiscal Year 2017
NITERRA CO., LTD. 
