Akebono Brake reports record net profit in FY 2013/14

Measures taken to counter the adverse business conditions pay off.

apanese component supplier Akebono Brake has released its financial results for the fiscal year (FY) ending 31 March 2014, showing a record net profit, reports Dow Jones Institutional News. The company's net profit stood at JPY2.42 billion (USD23.75 million), compared with JPY518 million during the previous year. Sales revenues increased from JPY206.05 billion to JPY236.67 billion. Operating profit doubled to JPY8.08 billion, from JPY4.32 billion during FY 2012/13. For the current FY ending 31 March 2015, Akebono Brake is expecting a net profit of JPY4 billion, while sales revenues and operating profit are projected at JPY243 billion and JPY11 billion, respectively.