Pillar Corp reports mixed Q1 results with profit divergence

Pillar Corporation reported net sales increased 3.1% to 13,499 million yen for the three months ended June 30. Operating profit rose 8.4% to 2,705 million yen, but ordinary profit decreased 5.4% to 2,765 million yen.

Industrial Equipment Business sales grew 8.7% to 4,566 million yen, outpacing Electronic Equipment Business which increased just 0.5% to 8,923 million yen. Total assets declined by 2,302 million yen to 95,753 million yen.