JAPAN: NGK’s net sales up 13.6% to US$1.59bn in H1/FY2016

NGK's net sales for the six months ended 30 September 2015 was up 13.6% to JPY192bn (US$1.59bn) compared with JPY169bn in the same period year ago. Operating income was up 16% to JPY34bn compared with JPY29.3bn. Income before income taxes and minority interests was down 30.3% to JPY18.75bn compared with JPY26.9bn. Profit attributable to owners of parent was down 22.7% to JPY12.6bn compared with JPY16.3bn in the year ago period.

NGK's net sales for the three months ended 30 September 2015 was up 16% to JPY97.9bn compared with JPY84.4bn in the same period in 2014. Operating income was up 15.5% to JPY16.4bn compared with JPY14.2bn. Profit attributable to owners of parent was down 91.9% to JPY500m compared to JPY6.20bn in the year ago period.

Consolidated forecast for fiscal year ending 31 March 2016

Net sales: JPY391.5bn

Operating income: JPY68bn

Profit attributable to owners of parent: JPY36bn