Espec sees record sales but profit plunges 64%

Espec Corp reported record quarterly sales of 18.9 billion yen, up 11.4%, driven by AI and satellite communication demand.

However, operating profit plunged 63.7% to 335 million yen due to reduced equipment business sales and higher depreciation costs.

The company maintained its full-year forecasts of 66 billion yen in orders and 8.5 billion yen operating profit.