Nichias reports Q1 sales decline, cuts full-year outlook

Nichias Corporation reported net sales fell 1.9% year-on-year to 62.044 billion yen in the first quarter, while operating income dropped 12.5% to 9.229 billion yen and profit attributable to owners plunged 23.1% to 6.569 billion yen.

The company revised its full-year forecast downward, now projecting net sales of 254 billion yen (down 1.0%) and profit attributable to owners of 25.8 billion yen (down 19.6%).