NPC Incorporated swings to profit in first half of fiscal year ending 8/2017

Japanese PV manufacturing equipment provider NPC Inc. saw its revenue and profit increase considerably in the first six months of the fiscal year ending on August 31, 2017.

Turnover jumped 231.3% from JPY 687 million ($6.1 million) in the first half of fiscal year ending on August 2016 to JPY 2,227 million ($20.0 million) in the same period of this fiscal year. As a result, the company was able to swing from an operational loss of JPY 301 million ($2.7 million) to a profit of JPY 419 million (JPY 3.7 million). Net result also improved significantly from a loss of JPX 259 million (JPY 2.3 million) to a profit of JPY 151 million ($1.3 million).

Looking forward, NPC said it expects to generate sales to the amount of JPY 5,261 million ($47.3 million) and a net profit of JPY 128 million ($1.1 million) in the current fiscal year.

The strong performance in the first half of this year, the company stated, was due to the improvement in employment and income situations. Furthermore, NPC said that sales of part of the large-scale lines in the machinery business were booked in the second quarter, earlier than scheduled. Sales for panel inspection equipment, however, were weaker than expected, the company specified.

At the end of March, NPC completed the sale of Matsuyama Factory No.2. The operation was aimed at strengthening its financial structure by improvement of liquidity on hand and reduction of property taxes. As the estimated price was lower than the book value, the company said it expected an impairment loss of JPY 201 million ($1.8 million) from estimated loss on sale to be booked as an extraordinary loss in the second quarter of this year.

As of August 31, 2016, NPC had 169 employees. The company provides PV module related equipment, vacuum packing machines, automization equipment, accessorial services, PV system maintenance services, inspection equipment, and contract module assembly services.