Daiwa Industries reports 4.8% profit drop on sales decline

Daiwa Industries Ltd reported net sales of 22,607m yen for the six months ended June 30, down 0.9% year-on-year. Operating profit fell 5.6% to 3,684m yen, while net profit decreased 4.8% to 2,477m yen.

The company maintained its full-year forecast of 48,800m yen in net sales and 5,550m yen in profit. Total assets stood at 92,727m yen with an equity-to-asset ratio of 74.5%.