Japanese PV manufacturing equipment provider NPC Inc. was able to close the fiscal year ending on August 31, 2017, with a net profit of JPY 498 million ($4.4 million) and an increase in turnover of 19.2%.
The company’s revenue grew from JPY 3,996 million ($35.7 million) in fiscal year 2016 to JPY 4,765 million ($42.5 million) in the latest fiscal year. Meanwhile, net profit increased 513% year-on-year from JPY 81 million ($723,000 million) to a profit of JPY 498 million ($4.4 million). Operating income also improved from JPY 116 million to JPY 590 million.
Looking forward, NPC said it expects to generate sales to the amount of JPY 5,978 million ($53.4 million) and a net profit of JPY 271 million ($2.4 million) in the current fiscal year.
The company said that in the machinery business sales of the large-scale deal were booked as planned, while in the environmental business, panel inspection services for large-scale PV plants remained steady.
The machinery segment achieved sales amounting to JPY 4,521 million in the latest fiscal year, accounting for more than 94% of total turnover.
Order intake for fiscal 2017 reached JPY 5,602 million, up 22% from JPY 4,634 million a year earlier.
In late September, NPC Incorporated signed a technical collaboration agreement with Taiwanese solar cell manufacturer Green Energy Corporation (GET). The two companies have agreed to cooperate in PV recycling and other unspecified fields of the solar sector.
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 fiscal 2017.