Keyence April-Sept. Sales, Profits Fall for 1st Time in 10 Yrs

Economy

Osaka, Nov. 1 (Jiji Press)--Japanese factory automation equipment maker Keyence Corp. <6861> has reported the first drop in its April-September group sales and profits in 10 years, citing slowing business investment.

Net profit for the first six months of fiscal 2019 fell by 13.3 pct from a year earlier to 98,591 million yen, operating profit by 14.0 pct to 138,824 million yen, and sales by 5.8 pct to 276,979 million yen.

Sales decreased in Americas, Europe and Asia including China, as business investment decelerated due to the protracted U.S.-China trade war, the company said Thursday.

Keyence did not disclose full-year earnings projections.

President Akinori Yamamoto said it is difficult to forecast the course of its earnings for now, indicating uncertainty over whether the company can continue its record-breaking run for sales and profits.

[Copyright The Jiji Press, Ltd.]

Jiji Press