Sinfonia Technology reports 17% operating profit jump

Sinfonia Technology reported operating profit rose 17.0% to JPY 2,253 million for the first quarter ending June 30, despite net profit falling 8.1% to JPY 1,654 million.

Consolidated net sales increased 7.3% year-over-year to JPY 23,002 million, while ordinary profit declined 1.4% to JPY 2,493 million.

Total assets decreased by JPY 3,107 million to JPY 133,359 million, primarily due to reductions in trade receivables and cash. The company maintained its full-year forecast of JPY 125,000 million in net sales and JPY 16,500 million in operating profit.