Akebono Brake Industry Co., Ltd. Reports Consolidated Earnings Results for the Nine Months Ended Dec. 31, 2016; Provides Earnings Guidance for the Fiscal Year Ending March 31, 2017
February 01, 2017
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Akebono Brake Industry Co., Ltd. reported consolidated earnings results for the nine months ended Dec. 31, 2016. For the period, the company reported net sales of JPY 196,734 million compared to JPY 211,466 million a year ago. Operating income was JPY 1,611 million compared to operating loss of JPY 2,283 million a year ago. Ordinary loss was JPY 1,028 million compared to JPY 4,003 million a year ago. Loss attributable to owners of parent was JPY 2,760 million or JPY 20.73 per basic share compared to JPY 6,295 million or JPY 47.32 per basic share a year ago. Loss before income taxes was JPY 987 million compared to JPY 3,236 million a year ago. Net cash provided by operating activities was JPY 4,061 million compared to JPY 5,274 million a year ago. Purchase of property, plant and equipment was JPY 10,764 million compared to JPY 12,625 million a year ago. Net interest bearing debt as at Dec. 31, 2016 was JPY 103,783 million compared to JPY 99,352 million a year ago.
For the fiscal year ending March 31, 2017, the company expects net sales of JPY 257,500 million, operating income of JPY 4,000 million, ordinary income of JPY 400 million, profit attributable to owners of parent of JPY 200 million or JPY 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 Nine Months Ended Dec. 31, 2016; Provides Earnings Guidance for the Fiscal Year Ending March 31, 2017