NOK exceeds half-year targets as weaker yen supports sales

Tokyo – Japanese rubber and polymer parts manufacturer NOK has exceeded its earnings and sales targets for the first half of fiscal 2024, ending 31 March 2025.

For the six months to end of September, the group reported group sales of Yen393 billion, up 1.6% from an August estimate of Yen387 billion and 11% compared to the same period last year.

Operating income for the period came in at Yen19 billion, up 34.4% compared to the August estimate of Yen14.2 billion and nearly four times last year’s first half earnings of Yen4.8 billion.

The gains were explained by stronger sales in both seal segment and electronics unit - specialised in flexible printed circuits - which were supported by the positive impact of the weaker yen, NOK reported 7 Nov.

In addition to increased sales, NOK said some expenses which were originally anticipated to incur during the first half of the fiscal year are now expected to push out to the second half.

As a result, operating income exceeded the previous forecast considerably.