Amidst a 2.2% sales revenue decline, the Document Solutions Unit bucks the trend with growth, while profit forecasts predict a challenging fiscal year end.
The financial results for the nine months ended 31 December 2023, show a decrease in sales revenue by 2.2% to ¥1,492.7 billion ($10.17 billion/ €9.41 billion) from the previous year. The overall profits before income taxes also decreased by 22.8% to ¥125.6 billion ($856 million/ €792 million).
Specifically, the Document Solutions Unit saw an increase in sales, which the company attributed to the impact of a weaker yen, contributing to a positive performance within the Solutions Business segment.
The Solutions Business experienced a 2.2% increase in sales revenue and a significant 28.3% increase in business profit, highlighting improved profitability in the Communications Unit due to structural reforms initiated in Fiscal 2023.
The forecast for the fiscal year ending March 2024 anticipates a slight increase in sales revenue to ¥2,000 billion ($13.62 billion/ €12.61 billion), a 0.6% rise from the previous fiscal year. Operating profit is expected to decrease by 29.7% to ¥140 billion ($954 million/ €882 million).
