11.23.16
Toyo Ink SC Holdings Co., Ltd. announced its first half financial results for the fiscal year ending March 31, 2017.
Net sales for the first half of fiscal 2016-17 (from April 1, 2013 to March 31, 2017) were ¥133,113 million ($1.314 billion), a 5.6% decrease from last year. Operating income increased 4.8% to ¥8,863 million ($87.5 million), while net income was ¥5,254 million ($52 million), a decrease of 7.5%.
“During the first half of the consolidated fiscal year under review, the global economy showed continuous improvements supported by consumer spending in the US,” Toyo Ink reported. “However, the pace of growth slowed further in China and other emerging nations. In addition, the uncertainty and downside risks of the global economy are increasing, mainly due to the spread of exclusive politics and society. As a result, the economy continued to stagnate in Japan as well.”
Sales in the overall Packaging Materials Related Business fell 0.4% year on year, to ¥31,845 million ($314 milion), and operating income increased 37.7%, to ¥1,581 million ($15.6 million).
“In addition to the continuous decline in domestic demand for gravure inks for publication, sales of solvents as resale products declined,” Toyo Ink noted in its report. “On the other hand, domestic sales of mainstay gravure inks for packaging were strong, mainly for beverage and private brand applications. Demand for gravure inks for construction materials recovered in the latter half of the period, and profitability improved. Overseas, sales of eco-friendly inks for packaging in the largest market segment continued to expand in Southeast Asia and India.’
Sales in the overall Printing and Information Related Business decreased to ¥40,485 million, ($400 million), down 5.8% year on year, but operating income increased 77.3%, to ¥1,577 million ($15.6 million), due to the effects of cost reduction initiatives.
“In offset inks, the export profit from Japan was squeezed by the strong yen, in addition to the continuous decrease in demand due to the structural depression where the information-related print market shrank associated with the progress of digitalization in Japan,” Toyo Ink reported. “Meanwhile, sales of UV ink expanded not only in Japan but also on a global scale, particularly in Europe, and hard coating agents for touch panels sold well. Sales were weak in China and Southeast Asia, reflecting the slowdown of economic activity. In India and Brazil, sales expanded and profitability also improved.”
Net sales for the first half of fiscal 2016-17 (from April 1, 2013 to March 31, 2017) were ¥133,113 million ($1.314 billion), a 5.6% decrease from last year. Operating income increased 4.8% to ¥8,863 million ($87.5 million), while net income was ¥5,254 million ($52 million), a decrease of 7.5%.
“During the first half of the consolidated fiscal year under review, the global economy showed continuous improvements supported by consumer spending in the US,” Toyo Ink reported. “However, the pace of growth slowed further in China and other emerging nations. In addition, the uncertainty and downside risks of the global economy are increasing, mainly due to the spread of exclusive politics and society. As a result, the economy continued to stagnate in Japan as well.”
Sales in the overall Packaging Materials Related Business fell 0.4% year on year, to ¥31,845 million ($314 milion), and operating income increased 37.7%, to ¥1,581 million ($15.6 million).
“In addition to the continuous decline in domestic demand for gravure inks for publication, sales of solvents as resale products declined,” Toyo Ink noted in its report. “On the other hand, domestic sales of mainstay gravure inks for packaging were strong, mainly for beverage and private brand applications. Demand for gravure inks for construction materials recovered in the latter half of the period, and profitability improved. Overseas, sales of eco-friendly inks for packaging in the largest market segment continued to expand in Southeast Asia and India.’
Sales in the overall Printing and Information Related Business decreased to ¥40,485 million, ($400 million), down 5.8% year on year, but operating income increased 77.3%, to ¥1,577 million ($15.6 million), due to the effects of cost reduction initiatives.
“In offset inks, the export profit from Japan was squeezed by the strong yen, in addition to the continuous decrease in demand due to the structural depression where the information-related print market shrank associated with the progress of digitalization in Japan,” Toyo Ink reported. “Meanwhile, sales of UV ink expanded not only in Japan but also on a global scale, particularly in Europe, and hard coating agents for touch panels sold well. Sales were weak in China and Southeast Asia, reflecting the slowdown of economic activity. In India and Brazil, sales expanded and profitability also improved.”