Ichikoh Industries

Ichikoh: Company Moves Into The Black During First Quarter Due To Popularity Of Automotive Components

During Ichikoh’s announcement for it’s first quarter earnings, the company stated that it’s ordinary income had reached \183 million ($1.787 million USD), putting the company in the black. This is compared to the loss of \282 million ($2.755 million USD) the company had suffered during the same period the previous year.

Although sales of parts had been sluggish, Japanese domestic orders for automotive components did very well, leading to a 5.1% increase compared to last year at \24.85 billion ($242 million USD).

In terms of earnings, in addition to the automotive components division turning a profit, a cost reductions enacted by the company also helped improve profits, with the company seeing an operating profit of \318 million ($3.1 million USD). The bottom line for the first quarter was \94 million ($918,000 USD).

The company’s projected earnings for the year were left as is.

[Translated by Bryce Clarke]