According to the figures Press Kogyo released for their first quarter earnings of 2016 (April through June), net profits compared to the same quarter last fiscal year dropped by 7.7%, coming in at Â¥1.2 billion ($12.2 million USD).
Sales also saw a 8.2% drop at Â¥48.1 billion ($476 million USD). Despire demand for standard and small size truck components in Japan and pickup truck and SUV components in Thailand and the US, components for construction equipment were sluggish and the exchange rate also affected income.
Operating profits for automotive divisions were favorable, seeing a 10.1% increase at Â¥2.67 billion ($26 million USD). Ordinary profits were also affected by the exchange rate, leading to a 12.5% loss at Â¥2.09 ($20.7 million USD).
Projections for yearly earnings were not revised from previous figures.
[Translated by Bryce Clarke]