Daido Steel Co. Ltd. Reports Consolidated Earnings Results for the Nine Months Ended December 31, 2016; Provides Consolidated Earnings Guidance for the Year Ending March 31, 2017
January 31, 2017 at 03:10 pm
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Daido Steel Co. Ltd. reported consolidated earnings results for the nine months ended December 31, 2016. For the period, the company reported net sales of JPY 323,536 million against JPY 345,943 million for the same period prior year. Operating income was JPY 17,631 million against JPY 17,595 million for the same period prior year. Ordinary income was JPY 18,326 million against JPY 18,466 million for the same period prior year. Profit attributable to owners of the parent was JPY 10,888 million or JPY 25.68 per share against JPY 6,564 million or JPY 15.15 per share for the same period prior year.
For the year ending March 31, 2017, on consolidated basis, the company expects net sales of JPY 435,000 million, operating income of JPY 21,000 million, ordinary income of JPY 21,000 million, profit attributable to owners of parent of JPY 13,500 million, and profit attributable to owners of parent per share of JPY 31.84.
Daido Steel Co., Ltd. is a steel manufacturing company operating in five business segments. The Specialty Steel segment is engaged in the manufacture, inspection and sale of specialty steel and secondary products, as well as the procurement of materials. The Functional and Magnetic Materials segment offers functional and electronic materials, high-alloyed products and rare-earth magnetic products. The Automobile and Industrial Machinery Parts segment mainly offers shaped forgings, precision hot forgings, open die forgings and steel machinery products for trucks, compression equipment, hydraulic equipment and machine tool parts. The Engineering segment offers steel equipment, environmental equipment and others. The Distribution and Services segment is engaged in the real estate business, the insurance businesses, the operation of golf courses and hotels, as well as the sale of information systems.
Daido Steel Co. Ltd. Reports Consolidated Earnings Results for the Nine Months Ended December 31, 2016; Provides Consolidated Earnings Guidance for the Year Ending March 31, 2017