Shinko Electric Industries Faces Steep Decline in Nine-Month Financial Performance

Shinko Electric Industries CO., LTD., reported a notable downturn in its financial performance for the nine months ending December 31, 2023. The company experienced a 32.6% decline in net sales compared to the previous year, with net sales amounting to 156,638 million yen. Operating profit and ordinary profit also saw steep declines of 74.7% and 72.9%, respectively, highlighting the challenges faced in the current fiscal period. Profit attributable to owners of the parent decreased by 73.5% to 13,381 million yen. The earnings per share dropped significantly to 99.04 yen from 373.85 yen in the previous year, reflecting the impact of these financial challenges on shareholder value. Despite these setbacks, Shinko Electric maintained a strong equity ratio of 68.4%, indicating a resilient financial structure amid declining performance metrics.