The company forecasts strong rebound in FY2024 after turbulent 2023 performance.
Ninestar has posted a sharp turnaround in its 2024 results, delivering a net profit of ¥764 million ($106 million/ €98 million) following a loss of ¥6.19 billion ($860 million/ €795 million) a year earlier.
Revenues climbed 9.74% year on year to ¥26.4 billion ($3.67 billion/ €3.38 billion), buoyed by increased global sales and a stronger product mix across its printing and consumables segments. Operating profit reached ¥1.35 billion ($188 million/ €173 million), marking a full return to profitability.
The company cited “major breakthroughs in key international markets” and “heavyweight product launches” as reasons behind the upturn, adding that continued investment in research and development and brand building had yielded tangible results.
While the overall recovery is striking, Ninestar did not provide a breakdown by business segment. A full audited annual report is expected later this year.
