NOK reports mixed Q1 results amid yen appreciation

NOK Corporation reported Q1 consolidated net sales of 171,866 million yen, down 8.7% year-on-year, while operating income rose 23.9% to 7,002 million yen. Ordinary income fell 28.3% to 8,625 million yen, and profit attributable to owners declined 18.3% to 5,729 million yen.

Yen appreciation negatively impacted sales, leading to foreign exchange losses that reduced ordinary income and net profit compared to prior year gains. The seal business benefited from higher Japanese automobile production, while electronic products saw decreased sales and operating income.