Japan Material reports strong Q1 growth in electronics

Japan Material reported consolidated net sales of 13.3bn yen for the first quarter ended June 30, an 18.8% increase year-on-year. Operating profit surged 59.4% to 3.2bn yen, while net income climbed 38.8% to 2.1bn yen.

The strong performance was primarily attributed to the electronics related business, which saw sales increase 20.1% to 12.9bn yen and segment profit rise 52.5% to 3.5bn yen.