Hosiden sales double but profits plunge 64%

Hosiden Corporation reported net sales of 116,340 million yen for the three months ended June 30, up 101% year-on-year. However, operating profit dropped 45.5% to 2,391 million yen and net profit plunged 64.2% to 1,313 million yen.

The company attributed the profit decline to a product mix shift and yen strengthening.