Hamamatsu presents fiscal year 2020 results

Hamamatsu has presented the fiscal year results for 2020. The company closed the fiscal year with net sales of JPY 140,251 million, down by JPY 5,660 million (3.9%) from the previous year, due to decreases in both domestic and overseas sales. From an earnings perspective, operating profit was JPY 21,752 million, down by JPY 3,650 million (14.4%), ordinary profit was JPY 22,692 million, down by JPY 3,584 million (13.6%), and profit attributable to owners of parent was JPY 16,523 million, down by JPY 3,395 million (17.0%) from the previous year. Accordingly, revenue and profits regrettably decreased.

Impacts of COVID-19 on Consolidated Financial Results

The impacts of COVID-19 on financial results were noticeable starting in the third quarter of the fiscal year. Consolidated net sales for the three-month period were down by 9.9% (down by JPY 3,332 million) from the same period of the previous fiscal year and down by 21.3% (down by JPY 8,204 million) from the second quarter of this fiscal year.The main events that had an impact on financial results are as follows. Suspension of product shipments and postponement of deliveries due to suspension of operations, etc. at overseas customers’ plants, mainly in Europe.