Tokai Rika Reports Earnings Results for the Six Months Ended September 30, 2016; Provides Earnings Guidance for the Full Year Ending March 31, 2017
November 17, 2016 at 11:11 am EST
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Tokai Rika reported earnings results for the six months ended September 30, 2016. For the period, the company reported has reported a net profit of JPY 5.5 billion compared with a net loss of JPY 6.3 billion for the corresponding period of the previous fiscal year. Sales revenues for the period were down 6.4% year on year to JPY 220.6 billion. Lower sales resulted in a 2.8% decrease in operating profit to JPY 15.7 billion. Extraordinary loss was JPY 22.1 billion.
For the full year ending March 31, 2017, the company expects net income of JPY 13 billion, reflecting growth of 132.5% year on year. 6.3% year on year decline in sales revenues to JPY 446 billion is expected to lower operating income by 19.1% year on year to JPY 28 billion.
TOKAI RIKA CO., LTD. is mainly engaged in the manufacture and sale of automobile parts. The Company provides automobile field products including switches, seatbelts, key locks, shift levers, automobile mirrors, steering wheels and decorations, as well as non-vehicle field products including entrance immobilizers, window lock monitoring systems and others.