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Japanese firm Fuji Corporation sales rise to ¥39 bn in Q1

26
Aug '21
Pic: Fuji Corporation
Pic: Fuji Corporation
Fuji Corporation, a Japan-based manufacturer of machinery also engaged in producing nonwoven cloth, posted 2.5 per cent sales rise to ¥38.7 billion (Japanese Yen) in first quarter (Q1) of FY21 ended on June 30, 2021, compared to ¥37.8 billion in same period of prior fiscal. Operating profit for the quarter surged 37.5 per cent to ¥8.8 billion (¥6.4 billion).
 
The company's machinery tools segment sales slipped to ¥1.6 billion (¥1.8 billion) with demand in Japan market remaining weak during the three-month period. However, North America region (excluding US) experienced substantial growth.
 
Gross profit during the first quarter increased to ¥15.8 billion (¥13.5 billion), while ordinary profit improved to ¥9.2 billion (¥7.0 billion). The company’s profit for the reported period escalated to ¥6.5 billion (¥4.9 billion).
 
In its outlook for FY21, the Japanese firm said that as market is on track to recovery for the machinery tools and it is not making any changes to the sales forecast for the segment of ¥13.0 billion, up 109.0 per cent from FY20. While the company expects overall sales to grow 10.9 per cent to ¥153.0 billion during the year.

Fibre2Fashion News Desk (JL)

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