Tachibana Eletech Q1 net income drops 46% on revenue decline

Tachibana Eletech reported consolidated net sales of 48,157 million yen for the first quarter, down 6.9% year-on-year. Operating income decreased 26.7% to 1,008 million yen, while net income attributable to owners fell 46.3% to 722 million yen.

Total assets stood at 159,335 million yen, down from 165,416 million yen at the previous fiscal year-end. The company maintained its full-year forecast of 225,000 million yen in net sales and 5,500 million yen in net income.