SMC reports 29% profit drop amid global challenges

SMC Corporation reported net sales of 200.2bn yen for the three months ended June 30, down 1.3% year-on-year.

Operating profit fell 15.1% to 44.5bn yen due to increased costs and depreciation. Profit attributable to owners plunged 28.9% to 34.6bn yen, hit by higher foreign exchange losses.

The company maintained its full-year forecast, projecting net sales of 850bn yen and profit of 167bn yen for the year ending March 2026.