Union Tool Co. reported consolidated earnings results for the first quarter ended March 2016. For the period, the company reported net sales of JPY 4,994 million against JPY 5,450 million a year ago. Operating income was JPY 776 million against JPY 916 million a year ago. Ordinary income was JPY 732 million against JPY 931 million a year ago. Profit attributable to owners of parent was JPY 475 million or JPY 27.16 per share against JPY 1,013 million or JPY 52.49 per share a year ago.

For the second quarter ending June 2016, the company expects net sales of JPY 10,000 million, operating income of JPY 1,300 million, ordinary income of JPY 1,400 million, profit attributable to owners of parent of JPY 1,100 million or JPY 63.12 per share.

For the year ending December 31, 2016, the company expects net sales of JPY 21,500 million, operating income of JPY 3,600 million, ordinary income of JPY 3,800 million, profit attributable to owners of parent of JPY 2,800 million or JPY 161.37 per share.

The company provided dividend guidance for the second quarter and full year ending December 2016. For the second quarter end, the company plans to pay a dividend of JPY 25.00 per share compared to JPY 22 per share paid a year ago.

For the year ending December 2016, the company plans to pay a dividend of JPY 25.00 per share compared to JPY 33 per share paid a year ago.