Akebono Brake Industry Co. Ltd. Reports Consolidated Earnings Results for the First Half Ended September 30, 2016; Provides Earnings Guidance for the Year Ending March 31, 2017
November 08, 2016 at 09:58 am EST
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Akebono Brake Industry Co. Ltd. reported consolidated earnings results for the first half ended September 30, 2016. For the period, the company reported net sales of ¥133,475 million compared to ¥141,605 million, operating income of ¥736 million compared to operating loss of ¥450 million, ordinary loss of ¥1,479 million compared to ¥1,428 million, loss attributable to owners of parent of ¥2,831 million or ¥21.26 per basic share compared to ¥5,774 million or ¥43.41 per basic share for the last year. Loss before income taxes of ¥1,486 million compared to ¥3,601 million, net cash provided by operating activities was ¥2,940 million compared to ¥3,583 million and purchase of property, plant and equipment was ¥7,919 million compared to ¥8,343 million for the last year.
The company provided earnings guidance for the year ending March 31, 2017. For the year, the company expected net sales of ¥257,500 million, operating loss of ¥4,000 million, ordinary loss of ¥400 million and loss attributable to owners of parent ¥200 million or ¥1.50 per basic share.
AKEBONO BRAKE INDUSTRY CO.,LTD. is a Japan-based company mainly engaged in the manufacture and sale of brakes for automotive, industrial equipment and railway vehicles, as well as the research and development business and the logistics services business. The Company operates through six regional segments. The Company is engaged in the production of disc brakes, disc pads, drum brakes, shoe assemblies, brake linings, industrial equipment brakes, railway vehicles brakes, corner modules, rotors, master cylinders and other products. The Company operates in Japan, North America, Europe, China, Thailand and Indonesia.
Akebono Brake Industry Co. Ltd. Reports Consolidated Earnings Results for the First Half Ended September 30, 2016; Provides Earnings Guidance for the Year Ending March 31, 2017