Komori Increases Sales and Returns to Profit

Komori Corporation has published its financial figures for 2021/22, reporting a return to profit and an increase of 22% in consolidated net sales compared to the previous year.

Sales for all divisions amounted to ¥87.6 billion ($643 million), mainly driven by the European market. Profit increased to ¥6.2 billion from a loss of ¥2 billion the previous year. Higher shipping and other costs were more than offset by the sale of non-currency assets and favourable exchanges rates to achieve this result.

Security presses are included within the web offset division, overall sales for which came to ¥12.2 billion. Orders, among others, included new numbering/varnishing NV532 combination presses for the Banque de France and Banca d’Italia printworks, a complete new line for the Central Bank of Turkey, and new offset and intaglio presses to Security Printing and Minting Corporation of India (SPMCIL) for Currency Note Press in Nashhik and Bank Note Press in Dewas.

According to Komori, the modest post-COVID recovery in 2021/22 has been hampered by logistic disruptions, raw material price surges, and shortages in semiconductors and other parts. It states that the outlook for the global economy remains unclear due to looming geopolitical instability and volatile foreign exchange rates, primarily influenced by government-led monetary tightening Even so, the company is forecasting sales of ¥92.8 billon for 2022/23, a 5.9% increase. Profits, however, will be lower at ¥2.9 billion. Sales in the web offset and security press division are forecast to be ¥10.9 billion.

Komori plans to open new regional HQs in Europe, America and Greater China to bring service closer to the customer. In the security printing business, it will strengthen its Print Engineering Service Provider (PESP) initiatives which are already running its Japanese operations via Komori-Kare, a preventive maintenance service brand.

The company will also upgrade its sustainability project that had previously been focused on environmental activities, into a larger project covering the United Nations Sustainable Development Goals (SDGs).