Summary of Financial Results First Half of FY1999 Ended September 30, 1999
October 29th, 1999, Tokyo -- Oki Electric Industry Co., Ltd. today announced its summary of the first half of Fiscal Year 1999, ended September 30, 1999, along with its projections for the fiscal year 1999 ending March 31, 2000.
1. Financial Results for the First Half of FY1999 Ended September 30, 1999
(Million yen)
| Non-Consolidated | 1st Half ended Sept. 30, 1999 |
1st Half ended Sept. 30, 1998 |
Change |
|---|---|---|---|
| Net sales | 208,297 | 214,244 | -2.8% |
| Ordinary profit | -5,721 | -24,819 | N/A |
| Net income | -2,182 | -22,223 | N/A |
| Cash dividends | 0 yen/Share | 0 yen/Share | N/A |
2. Net Sales Breakdown
(Million yen)
| 1st Half ended Sept. 30, 1999 |
Ratio | 1st Half ended Sept. 30, 1998 |
Ratio | |
|---|---|---|---|---|
| Telecommnications systems | 59,826 | 29% | 59,281 | 28% |
| Information systems | 78,727 | 38% | 94,923 | 44% |
| Electronic devices | 68,621 | 33% | 58,264 | 27% |
| Others | 1,122 | — | 1,775 | 1% |
| Total (export portion) |
208,297 (27,468) |
100% (13%) |
214,244 (30,156) |
100% (14%) |
During this half-year period, Oki made selective investment for effective use of resources and focused on promising business areas thoroughly based upon "the Phoenix 21 Program", announced in September, 1998. As a result, the reduction of net sales was minimized and amount of loss was much reduced. The major factor which increased net sales is the memory business strategy to concentrate on 4M and 16M memories for non-PC usage, such as printers and hard disk drives.
3. Projections for the FY1999 Ending March 31, 2000 (non-consolidated)
(Million yen)
| Net sales | Ordinary profit | Net income | Cash dividends |
|---|---|---|---|
| 510,000 | 5,000 | 3,000 | 0 yen/share |
Oki will continue the countermeasures taken during this half-year period and make further efforts in order to achieve the targets of "the Phoenix 21 Program". The forecast for the FY1999 announced in May 1999 is expected to be achieved as planned.
- Press Contact:
- Public Relations Division
Phone: +81-3-3580-8950
- * Information in the press releases is current on the date of the press announcement, but is subject to change without prior notice.
