Mimaki Engineering Q1 profit falls despite maintaining forecasts

Mimaki Engineering reported first-quarter net sales of 19.4bn yen, down 2.0% year-on-year due to exchange rate impacts. Operating profit fell 5.8% to 1.9bn yen, while net profit dropped 10.9% to 1.3bn yen.

Despite the declines from decreased sales in IP and TA markets plus adverse currency impacts, the company maintained its full-year forecast of 88.6bn yen net sales and 9.2bn yen operating profit.