Bunka Shutter profit plunges 77% despite sales growth

Bunka Shutter reported net sales of 48.7bn yen for the three months ended June 30, up 5.1% year-on-year. However, operating profit fell 32.5% to 292m yen and ordinary profit plummeted 77.4% to 364m yen.

The company swung to a loss of 111m yen, compared with a 772m yen profit in the prior year period. Total assets declined to 197bn yen while net assets fell to 108.5bn yen.