Despite a mixed set of results in Iwatani Corporation’s consolidated financial results for fiscal year ended 31st March 2017, the company has projected strong double-digit growth for the year ahead.
Overall, consolidated net sales in 2016 dropped to ¥588bn ($5.2bn) from ¥616bn ($5.4bn) the previous year, but gross profit rose by 4.9% to ¥161.5bn ($1.4bn).
Revenue in its Industrial Gases & Machinery business slightly rose by 1.2% to ¥166.3bn ($1.5bn) but operating income fell by 11.2% from ¥7.6bn ($67m) to ¥6.7bn ($59.1m).
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