Shima Seiki Mfg., Ltd. reported sharp increases in sales and profits on a consolidated basis during the fiscal year ending on March 31, 2017. Consolidated sales increased by 25.9% compared to the previous fiscal year to 62,432 million yen, operating profits climbed 94.8% to 11,262 million yen, and net profits jumped 120.0% to 7,198 million yen.
Its flat knitting machine business posted a sales increase of 33.3% to 50,378 million yen. Capital investments in computerized flat knitting machines were vigorous in the ASEAN region and Bangladesh. In China, the rise in apparel consumption increased the introduction of WholeGarment knitting machines, and Korean knitters also actively installed the latest models of WholeGarment machines.
Sales of computerized flat knitting machines reached an all-time high of 14,473 machines, and those of WholeGarment machines sharply grew to 707 from 556 machines in the previous fiscal year.
In the current fiscal year ending on March 31, 2018, the company forecasts consolidated sales of 73.0 billion yen (up 16.9% year-on-year), operating profits of 15.0 billion yen (up 33.2%) and net profits of 10.0 billion yen (up 38.9%).