Inaba Denkisangyo reports strong first quarter earnings growth

Inaba Denkisangyo reported consolidated net sales of 87.5bn yen in the first quarter, up 6.6% year-on-year. Operating profit increased 4.7% to 5.7bn yen, while ordinary profit rose 8.0% to 6.6bn yen.

Profit attributable to owners jumped 10.5% to 4.7bn yen. The company maintained its full-year forecast of 392bn yen in net sales and 27.4bn yen ordinary profit.

The equity-to-asset ratio improved to 64.0% as net assets increased to 175bn yen despite total assets declining to 272bn yen.