Topy Industries Ltd. Announces Consolidated Earnings Results for the Six Months Ended September 30, 2016; Provides Earnings Guidance for the Year Ending March 31, 2017 and for Fiscal Year 2018/19
November 04, 2016 at 12:30 pm EDT
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Topy Industries Ltd. announced consolidated earnings results for the six months ended September 30, 2016. For the period, the company reported net sales of JPY 97,185 million, operating income of JPY 1,930 million, ordinary income of JPY 984 million and profit attributable to owners of parent of JPY 1,177 million or JPY 49.76 per share against net sales of JPY 108,516 million, operating income of JPY 3,268 million, ordinary income of JPY 2,764 million and loss attributable to owners of parent of JPY 3,305 million or JPY 139.57 per share a year ago. Profit before income taxes and non-controlling interests was JPY 1,502 million against loss of JPY 2,458 million a year ago.
The company provided earnings guidance for the year ending March 31, 2017. For the period, the company currently expects net sales of JPY 215,000 million, operating income of JPY 7,500 million, ordinary income of JPY 6,700 million and profit attributable to owners of parent of JPY 4,500 million or JPY 190.02 per basic share.
The company targets net sales of JPY 250 billion in fiscal year 2018/19, up from JPY 215.8 billion in fiscal year 2015/16. The operating income-to-net sales ratio is expected at 5.6% and return on equity of 7.7% in fiscal year 2018/19.
TOPY INDUSTRIES, LIMITED is an automobile and industrial machinery parts manufacturing company. The Company operates in three segments. The Steel segment is engaged in the manufacture of steel products by using electrical furnace, and the production and sale of rolled steel products including wide flange beams, standard shaped steel and deformed bars. The Automobile and Industrial Machinery Parts segment is engaged in the provision of automotive steel wheels, aluminum wheels, steel wheels for construction machinery, stamping products for automotive, industrial fasteners and industrial machine parts including undercarriage components of power shovels and bulldozers, and cutting edge of motor graders. The Power Generation segment is engaged in the power generation business and the wholesale of power. The Company is also engaged in the provision of sign systems, synthetic mica and crawler robots, civil engineer and construction business, the leasing of real estates and others.
Topy Industries Ltd. Announces Consolidated Earnings Results for the Six Months Ended September 30, 2016; Provides Earnings Guidance for the Year Ending March 31, 2017 and for Fiscal Year 2018/19