Maruwa achieves record first quarter operating income

Maruwa reported record first-quarter operating income of JPY 6,002 million, up 6.4% year-on-year, with net sales rising 6.2% to JPY 17,256 million.

However, ordinary income fell 7.4% to JPY 5,722 million and net income dropped 13.9% to JPY 3,878 million due to foreign exchange factors.

The company's equity ratio strengthened to 93.1% as net assets increased to JPY 131,474 million. Maruwa maintained its full-year earnings forecast unchanged.