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Japan – Sobal posts revenue growth

30 September 2013

Japan-based Sobal Corp (2186: JP) reported revenue of JPY 3.3 billion (USD 33.7 million) for the six months ending 31 August 2013, an increase of +3.2% compared with JPY 3.2 billion (USD 32.7 million) a year ago. The company reported an operating profit of JPY 288 million (USD 2.9 million), up by +5.2% from JPY 274 million (USD 2.8 million) for the same period last year.

Pre-tax profit for the company also rose year-on-year, increasing by +4.6% to JPY 292 million (USD 2.98 million) from JPY 279 million (USD 2.85 million). Net profit for the period rose +8.9% from JPY 155 million (USD 1.6 million) to JPY 168 million (USD 1.7 million).

Sobal Corporation engages in the development of embedded software and firmware for digital appliances, and research and development of wireless communication technologies in Japan. It also offers various engineering services, including worker dispatching (temporary staffing), trustee business, and contract work.  

For the full year ending 28 February 2014, the company is predicting revenue of JPY 6.7 billion (USD 68.4 million), an increase of +4.1% compared with last year. Net income is predicted to reach JPY 490 million (USD 5 million), up by +7.2% year-on-year.

The company expects that pre-tax profit will increase by +5.6% to JPY 490 million (USD 5 million) and will result in a net profit of JPY 265 million (USD 2.7 million), up +7.3% compared with the previous year.

In trading today, the company’s share price increased by +1% to JPY 876 (USD 8.95), an increase of +44.6% compared with a year ago. Based on its share price, the company has a current market value of JPY 3.8 billion (USD 38.8 million).

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