Tsudakoma Posts Profits Thanks to Vigorous Exports to India

Tsudakoma Corp. reported that consolidated sales during the fiscal year ending in November 2016 increased by 5.3% over the previous fiscal year to 38,870 million yen.

Operating profits amounted to 728 million yen (operating losses of 274 million yen in the previous fiscal year), and net profits totaled 437 million yen (net losses of 443 million yen in the previous fiscal year).

Textile machinery sales rose by 7.1% to 31,147 million yen with operating profits in this sector totaling 1,200 million yen (up 1,747.1%). Despite slow sales to the Mainland Chinese market, sales of air-jet looms to India were strong.
Even in Japan, textile manufacturers made capital investments relying on the government subsidy system.

In the current fiscal year, the company forecasts consolidated sales of 40,500 million yen (up 4.2% over the previous fiscal year), operating profits of 800 million yen (up 9.9%) and net profits of 550 million yen (up 25.9%).

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