Japan Power Fastening Sales & Profit Drop

Jason Sandefur

Japan Power Fastening Co. reported sales declined 21% to 8.67 billion yen (US$72.7 million) during 2006. Operating profit grew 7.1% to 495 million yen (US$4.15m), but net income dropped 20% to 155 million yen (US$1.3m).
Japan Power Fastening projected sales of 5.8 billion yen (US$48.64m) during the first six months of 2007, with net profit of 100 million yen (US$838,543). �2007 FastenerNews.com