Nippon Piston Ring Co., Ltd. announced consolidated earnings results for the first quarter ended June 30, 2019. For the quarter, the company reported net sales of JPY 13,227 million compared to JPY 14,287 million a year ago. Operating income was JPY 38 million compared to JPY 1,278 million a year ago. Net loss attributable to owners of parent was JPY 155 million or JPY 18.92 per share compared to net income of JPY 863 million or JPY 105.02 per share a year ago.

The company provided consolidated earnings guidance for the first half and full year of fiscal year ending March 31, 2020. For the first half of fiscal year ending March 31, 2020, the company expects net sales of JPY 27,000 million, operating income of JPY 100 million, net loss attributable to owners of parent of JPY 200 million and net loss per share of JPY 24.32.

For the fiscal year ending March 31, 2020, the company expects net sales of JPY 55,500 million, operating income of JPY 1,500 million, net income attributable to owners of parent of JPY 700 million and net income per share of JPY 85.11.

The company provided dividend guidance for the second quarter and full year of fiscal year ending March 31, 2020. For the second quarter of fiscal year ending March 31, 2020, the company expects dividend of JPY 20.00 per share compared to JPY 30.00 per share a year ago.

For the fiscal year ending March 31, 2020, the company expects dividend of JPY 55.00 per share compared to JPY 45.00 per share a year ago.