Tsudakoma Reports 7.1% Increase in Fiscal Textile Machinery Sales

Tsudakoma Corporation reported its consolidated sales during the fiscal year ending at the end of November 2018 increased by 6.3% over the previous fiscal year to 42,201 million yen. Operating profits grew by 50.0% to 934 million yen, and net profits were up 348.6% to 823 million yen.

Sales of textile machinery increased by 7.1% to 33,313 million yen, with segment profits growing by 30.6% to 1,298 million yen. Stricter environmental restrictions in China were a tailwind for textile machinery business. In India, business negotiations were vigorous, but because bank loans were stricter, order and sales in this market decreased compared to the previous fiscal year. In China, stricter environmental restrictions increased demand for high-performance water-jet looms and preparatory equipment. In Japan, capital investments based on ‘Monozukuri’ subsidies were active.

In the current fiscal year, the company expects consolidated sales of 44 billion yen (up 4.3%), operating profits of 1.4 billion yen (up 49.9%), and net profits of 1.2 billion yen (up 45.7%).