KITZ Reports Earnings from Fiscal Year March 2011
Monday, May 23, 2011
KITZ Corporation saw mixed results during the fiscal year
March 2011 due in part to weak domestic economy, which was compounded by the
Eastern Japan Earthquake that devastated parts of Japan on March 11, volatility
in foreign exchange, and weak global economies. Against this backdrop, total
consolidated sales rose by 9.8% year-over-year to JPY106 billion. Despite the
higher sales, rising costs of raw materials, weaker product pricing, and
strength in the Japanese Yen led to a 9.1% year-over-year decline in operating
income to JPY6.34 billion. Moreā¦
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