NPC Incorporated posts 346% revenue growth in first nine months of fiscal year ending 8/2017

Japanese PV manufacturing equipment provider NPC Inc. has reported a strong growth for its turnover and profits in the first nine months of current fiscal year ending on August 31, 2017.

Revenue climbed 346.0% from JPY 873 million ($7.8 million) in the first three quarters of the fiscal year ending on August 31 2016 to JPY 2,227 million ($35.2 million) in the same period of this fiscal year. Meanwhile, net result swung from a loss of JPY 409 million ($3.6 million) to a profit of JPY 446 million ($4.0 million). Operating income also improved from a loss of JPY 438 million to a profit of JPY 727 million.

Looking forward, NPC said it expects to generate sales to the amount of JPY 4,828 million ($43.6 million) and a net profit of JPY 252 million ($2.2 million) in the current fiscal year.

The solid results achieved so far this year, the company said, were due to continuous cost reduction and sales efforts, both in the equipment and environmental business. As for the machinery division, the company said that it achieved revenue of JPY 3,727 million, as the sales of the large-scale lines were booked in line with the plan, and the sales of upgrading business deals were also booked.

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.