Nichicon reports USD102.6 million net loss for FY2017/18 despite higher sales
Company expects higher sales and return to net profit in FY2018/19
Japanese supplier Nichicon has reported net loss of JPY10.9 billion (USD102.6 million) for the financial year ended 31 March 2018 compared to net profit of JPY2.6 billion (USD23.6 million) a year earlier, the company said in a press release. Net sales increased by 14.3% y/y to JPY114.8 billion. Higher sales helped the Japanese supplier more than double its operating income to JPY6.2 billion.
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