Hakuto's Q1 profit halves amid sales decline and FX losses

Hakuto Co., Ltd. reported net sales fell 4.8% year-over-year to yen 40,337 million in its first quarter, primarily driven by lower semiconductor device sales in the vehicle-related sector and ongoing inventory adjustments.

Operating profit plummeted 49.9% to yen 869 million, while profit for the period fell 57.3% to yen 659 million. The decline was attributed to lower gross profit, higher expenses, and yen 0.17 billion in foreign exchange losses compared to yen 0.44 billion in profits in the prior year quarter.

Despite the decline, the company maintained its full-year forecast of net sales of yen 186,000 million and profit of yen 4,900 million.