ASG: Japanese stainless steel wire, metal fiber manufacturer Japan Precision Line Co., Ltd. released consolidated results show that in the first quarter of fiscal year 2019, which ended June 30, 2019, sales fell by about 12.6% to 8.679 billion yen year-on-year due to declining demand and weak sales of stainless steel wires and other wires. Of this total, stainless steel wire fell about 8.6 per cent to 7.43 billion yen from a year earlier, and metal fiber fell about 30.8 per cent to 1.249 billion yen from a year earlier.
In terms of profits, operating profit fell about 70.2 per cent to Y390 million from a year earlier, recurrent profit fell by about 68.6 per cent to Y418 million and net profit attributable to the parent company fell by about 69.2 per cent to Y283 million from a year earlier.
