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Nitto Kohki Co., Ltd. ( (JP:6151) ) has issued an update.
Nitto Kohki Co., Ltd. reported a decrease in sales and operating profit year-on-year for the third quarter of FY2024, though these figures remained steady compared to the previous quarter. The company noted weakened domestic demand in its machine tools and linear pumps businesses, while its quick connect couplings for semiconductor production equipment showed a recovery trend. Overseas, linear pumps saw a demand recovery in Europe but a decline in the U.S. The company also increased inventory levels to manage costs following the construction of a new plant. The financial forecast remains unchanged despite these challenges.
More about Nitto Kohki Co., Ltd.
Nitto Kohki Co., Ltd. operates in the industrial equipment sector, specializing in the production of machine tools, quick connect couplings, linear pumps, and door closers, with a focus on both domestic and international markets.
YTD Price Performance: -20.05%
Average Trading Volume: 9,550
Technical Sentiment Consensus Rating: Hold
Current Market Cap: Yen41.73B
See more insights into 6151 stock on TipRanks’ Stock Analysis page.