JUKI Reports Drop in Sales of Sewing Machinery & Systems

JUKI Corporation reported that its sales of sewing machinery and systems during the fiscal year ending in December 2019 dropped 12.7% compared to the previous fiscal year to 64,260 million yen.
Segment profits fell 48.3% to 2,680 million yen.
According to the company, sales in the Asian non-apparel sector were strong, but declined in China and Europe. Segment profits fell as a result of the sales decrease and lower capacity utilization rates at factories.
Total net sales decreased by 11.5% to 99,169 million yen. Operating profits fell 58.0% to 3,838 million yen, and net profits dropped 73.4% to 1,763 million yen.