KITZ Corporation Reports Consolidated Earnings Results for the First Quarter Ended June 30, 2017; Provides Consolidated Earnings Guidance for the First Half Year Ending September 2017 and Full Year Ending March 31, 2018
July 30, 2017
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KITZ Corporation reported consolidated earnings results for the first quarter ended June 30, 2017. For the quarter, the company reported net sales of JPY 29,302 million against JPY 27,411 million a year ago. Operating income was JPY 1,937 million against JPY 1,900 million a year ago. Ordinary income was JPY 1,876 million against JPY 1,803 million a year ago. Profit attributable to owners of parent was JPY 1,017 million or JPY 10.14 per share against JPY 1,092 million or JPY 10.22 per share a year ago. Net asset per share was JPY 730.27 against JPY 727.78 a year ago.
The company provided consolidated earnings guidance for the first half year ending September 2017 and full year ending March 31, 2018. For the first half, the company expects net sales of JPY 55,400 million, operating income of JPY 4,000 million, ordinary income of JPY 3,900 million and profit attributable to owners of parent of JPY 2,500 million or JPY 24.96 per share.
For the full year, the company expects net sales of JPY 117,000 million, operating income of JPY 10,000 million, ordinary income of JPY 9,700 million and profit attributable to owners of parent of JPY 6,300 million or JPY 62.94 per share.
KITZ CORPORATION is mainly engaged in the manufacture and sale of valves and copper products. The Company operates in two business segments. The Valves segment provides bronze valves, steel valves, valve-related products, as well as filtration-related products. The Rolled Copper segment provides rolled copper products and copper processed products. The others businesses include the operation of hotels, restaurants and others.
KITZ Corporation Reports Consolidated Earnings Results for the First Quarter Ended June 30, 2017; Provides Consolidated Earnings Guidance for the First Half Year Ending September 2017 and Full Year Ending March 31, 2018