Toyo Ink SC Holdings Co., Ltd. announced the quarterly financial results for the fiscal year ending March 31, 2013. For the quarter ending June 30, 2012, Toyo Ink’s net sales decreased 1.5% to ¥60,320 million, while operating income was ¥3,925 million, a decline of 9% from 1Q 2011. Net income fell 27.8% year on year to ¥1,971 million.
Toyo Ink noted that the global economic slowdown is impacting its businesses.
Sales in the Printing and Information Business, which includes offset inks, decreased by 0.8% to ¥17,895 million, although operating income rose to ¥288 million due to cost reduction measures. Sales for the Packaging Business, which includes gravure inks, fell 2.1% year on year to ¥13,488 million, with operating income heavily impacted by raw material price increases, declining 17.2% to ¥467 million.
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