Aisin Seiki's Q1 FY 2013/14 net profit jumps 20% y/y, JTEKT's triples

Long-term plan to increase its overseas sales to 50% of the total from the present 30% by 2020.

Japanese component suppliers Aisin Seiki and JTEKT today (31 July) released their financial results for the first quarter (April-June 2013) of the fiscal year (FY) that ends in March 2014. Aisin Seiki's net profit increased 20% year-on-year (y/y) to JPY29 billion (USD295.6 million), while operating profit declined 2.8% y/y to JPY44.3 billion, on sales of JPY699.6 billion, up 6.7% y/y. For the full FY 2013/14, the company has forecast a net profit of JPY80 billion and an operating profit of JPY170 billion, on sales of JPY2.73 trillion.