Morio Denki Reports Downturn in Quarterly Financials

Morio Denki Co., Ltd. (JP:6647) has released an update.

Morio Denki Co., Ltd. has reported a decline in its financial performance for June 2024, with net sales showing a modest increase of 5.7% but significant falls in operating profit, ordinary profit, and profit attributable to owners of parent by 67.2%, 63.0%, and 53.6%, respectively. The company also experienced a decrease in comprehensive income by 79.2% compared to the previous year, although total assets slightly increased. The capital adequacy ratio saw a slight drop from 57.6% to 56.9%, indicating a decrease in financial stability.

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