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OSG reports record-high sales for fiscal year ended November 2017

November 26, 2017

Financial highlights

OSG reported record-high sales of 120.2 billion yen for the fiscal year ending November 2017, up 13.9% from the previous year. The results were announced at the company’s New Year Ceremony on January 15, 2018.

Operating profit rose by 4.9% to 19.1 billion yen, while net profit surged by 38.1% to 14.0 billion yen.

Growth drivers

A 12% increase in sales of the company’s core product, taps, contributed significantly to the overall growth. In addition, sales of end mills and drills also showed double-digit growth, supported by a recovery in demand for construction machinery in China.

President Norio Ishikawa stated, “Orders for taps, end mills, and drills have increased significantly. We will continue to make efforts to sustain this growth.”

Forecast and investment for FY2018

For the fiscal year ending November 2018, OSG targets:

  • Net sales of 130 billion yen

  • Operating profit of 22 billion yen

  • Net profit of 13.5 billion yen

The company also plans to invest 11 billion yen in capital expenditures during the fiscal year.

 

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