The company has released its full year 2020 results, stating net sales fell short of forecast due to the prolonged COVID-19 impact.
Oki recorded net sales of ¥392.9 billion ($3.6 billion/ €3 billion) for the FY2020 period which is a year-on-year decrease of ¥64.3 billion ($591 million/ €485 million). For the Component & Platforms business segment which includes its printers net sales were ¥196.5 billion ($1.8 billion/ €1.5 billion) which was a small decrease of 9.1% or ¥19.8 billion ($182 million/ €149 million) year-on-year decrease.
Oki explained that it saw a strong impact from COVID-19 in overseas markets, particular in printers. The company added that the structural reform of printers has progressed as planned and is beginning to contribute, but the lower overseas sales was significant.
