Tokai Rika Announces Earnings Results for the Nine Months Ended December 31, 2015; Provides Earnings Guidance for the Full Year Ending March 31, 2016; Plans to Open its First Manufacturing Plant in Mexico in 2016
February 09, 2016 at 05:18 pm
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Tokai Rika announced earnings results for the nine months ended December 31, 2015. For the period, the company posted a 93.3% year o year decline in net income to JPY 1.1 billion. The company's operating income, however, was up 14.9% year on year to JPY 26.6 billion, buoyed by a 6.5% increase in net sales to JPY 356.9 billion.
The company provided earnings guidance for the full year ending March 31, 2016. For the period, the company expected net sales of JPY 471 billion and operating income of JPY 33 billion. Net income is projected to be JPY 5.5 billion.
The company announced plans to open its first manufacturing plant in Mexico in 2016 to produce switches and security devices, including automatic transmission shift levers and key sets.
TOKAI RIKA CO., LTD. is mainly engaged in the manufacture and sale of automobile parts. The Company provides automobile field products including switches, seatbelts, key locks, shift levers, automobile mirrors, steering wheels and decorations, as well as non-vehicle field products including entrance immobilizers, window lock monitoring systems and others.
Tokai Rika Announces Earnings Results for the Nine Months Ended December 31, 2015; Provides Earnings Guidance for the Full Year Ending March 31, 2016; Plans to Open its First Manufacturing Plant in Mexico in 2016