The company said that its net sales increased due to production recovery thanks to supply chain normalisation and the start of large scale projects.
Net sales for the first half of FY2023 were ¥174.9 billion ($1.16 billion/ €1.09 billion), an increase of ¥12.1 billion ($80 million/ €75million) year-on-year. Operating income increased ¥5 billion ($33 million/ €31 million) to ¥1 billion ($6.6 million/ €6 million). Net sales increased in three segments excluding the component products, which includes its LED printers.
OKI explained that the printer operating income declined due to the large impact of a net sales decrease caused by stagnant overseas demand and excessive inventory in distribution channels.
Net sales for the component products segment were ¥34.9 billion ($231.5 million/ €217 million) during the reporting period.
OKI kept the forecast for the full year results unchanged.
