JTEKT’s Q1 net income declines 50.9% y/y to USD56.5 million
Sales drops 3.8% y/y
JTEKT’s net income declined 50.9% year-over-year (y/y) to JPY6.1 billion (USD56.5 million) in the first quarter ended 30 June 2019, the company said in a press release earlier this month. The Japanese supplier also recorded 46.9% y/y drop in operating profit to JPY10.2 billion. JTEKT witnessed sharp decline in earnings as sales dropped 3.8% y/y to JPY362.2 billion.
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