Ichikoh reports net loss for FY2007
Net sales falls marginally by 0.6%
Ichikoh Industries Ltd. for the financial year ended 31 March 2007, reported a net loss of ¥900m (US$7.6m, 31 March 2007) as opposed to a net profit of ¥1.45bn (US$12.3m, 31 March 2006) last year. This happened mainly because of inclusion of ¥8.9bn (US$75.4m, 31 March 2007) reserve in the income statements for product warranty expenses along with other high non-operating expenses incurred by the company during the financial year. However, the operating income followed an upward trend and increased by 51.8% to ¥3.28bn (US$27.8m) as compared to ¥2.16bn (US$18.3m) in the previous year. The consolidated net sales of the company remained almost flat at ¥120.52bn (US$1.02bn), very close to last year’s ¥121.21bn (US$1.03bn), depicting a marginal decline of 0.6%. The company was able to perform well in domestic and overseas markets due to expansion of new business and favourable market environment.
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