YKK Gains 87% Higher Full-Year Recurring Profit in F2010

YKK Corporation announced on Friday the firm’s full-year consolidated net sales decreased by 2% to 544.8 billion yen in fiscal 2010 ended in March 2011 from the previous fiscal year while the operating profit increased by 75% to 32.4 billion yen and the recurring profit increased by 87% to 30.9 billion yen. The net sales downed since the firm’s financial term was 12 months for domestic operations and 15 months for overseas operations in fiscal 2009 due to the financial term change.

The extraordinary loss was 2 billion yen related to Japan Earthquake and 3.9 billion yen for repairing cost of illegal fireproof sashes. Despite of these losses, the full-year net profit increased by 6.3 billion yen to 10.1 billion yen in fiscal 2010 from fiscal 2009 thanks to the large improvement of operating and recurring profits.

The fastening business division posted net sales at 231.1 billion yen, 7% year-on-year minus, with 35.3 billion yen operating profit, 25% year-on-year plus. The company’s cost cut efforts contributed to the profit improvement while raw material cost upsurge impacted the profitability. Architectural material business division gained 2% year-on-year higher net sales at 308.4 billion yen while the operating profit improved to 3.9 billion yen against 5.8 billion yen operating loss in fiscal 2009. All of the overseas group companies gained full-year profit. In Japan, sales volume increased and productivity improved.