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.