08.22.18
Toyo Ink SC Holdings Co., Ltd. announced the first quarter financial results for the fiscal year ending Dec. 31, 2018. Consolidated net sales for the first half of fiscal 2018 were ¥140,950 million ($1.273 billion), an increase of 1.9% over 2017’s first half. Operating income was ¥7,753 million ($70 million), down 23.1% from 2017.
Sales in the Printing and Information Business decreased to ¥38,756 million ($350 million), down 1.4% year over year, and Packaging Business sales were ¥30,486 million ($275 million), an increase of 8% from the first half of 2017.
“During the first half of the consolidated fiscal year under review, the U.S. economy continued to recover on the back of strong personal consumption,” Toyo Ink reported. “In China and other countries in Asia, growth continued, although the pace of growth slowed. However, concern regarding an economic downturn due to trade friction, regional conflicts and other political risks is increasing. Uncertainty over the outlook is still spreading. In Japan, consumer spending is still somewhat weak, despite the trend of economic recovery.”
“Consequently, net sales for the first half under review increased to ¥140,950 million (up 4.1% year on year). Profits fell, however, mainly due to a sharp rise in the prices of raw materials with operating profit of ¥7,753 million (down 23.1% year on year), ordinary profit of ¥7,532 million (down 27.7% year on year), and profit attributable to owners of parent of ¥5,357 million (down 39.9% year on year),” Toyo added.
Sales in the Printing and Information Business decreased to ¥38,756 million ($350 million), down 1.4% year over year, and Packaging Business sales were ¥30,486 million ($275 million), an increase of 8% from the first half of 2017.
“During the first half of the consolidated fiscal year under review, the U.S. economy continued to recover on the back of strong personal consumption,” Toyo Ink reported. “In China and other countries in Asia, growth continued, although the pace of growth slowed. However, concern regarding an economic downturn due to trade friction, regional conflicts and other political risks is increasing. Uncertainty over the outlook is still spreading. In Japan, consumer spending is still somewhat weak, despite the trend of economic recovery.”
“Consequently, net sales for the first half under review increased to ¥140,950 million (up 4.1% year on year). Profits fell, however, mainly due to a sharp rise in the prices of raw materials with operating profit of ¥7,753 million (down 23.1% year on year), ordinary profit of ¥7,532 million (down 27.7% year on year), and profit attributable to owners of parent of ¥5,357 million (down 39.9% year on year),” Toyo added.