Akebono Brake swings to loss in FY 2014/15
Results in line with the revised guidance issued by the company last month .
Akebono Brake has reported a loss of JPY6.1 billion (USD50.9 million) for the fiscal year (FY) ended 31 March 2015, reports Dow Jones Institutional News. The brake supplier said its profit during FY 2013/14 had been JPY2.4 billion. Operating profit in FY 2014/15 also declined, to JPY4 billion, compared with JPY8.1 billion in FY 2013/14. The company's revenues last FY stood at JPY254.2 billion, up 7.4% y/y from JPY236.7 billion in FY 2013/14.
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