Precision Tsugami (China) (1651 HK) News Flash

19 June 2024

Precision Tsugami China’s (PTC) parent – Tsugami Japan (6101 JP, NR) released its FY24 results (Year ended Mar) results. According to its parent’s disclosed financial information on sales of its China segment, sales from China segment amounted to JPY63.4bn, representing a YoY decrease of 21.1%. The segment’s income was also down by 18.1% YoY to JPY12.6bn in FY24.

Sales of PTC’s core product- automotive lathes dropped by 12.1% YoY to JPY46.1bn in FY24, accounting for 85.5% of the total sales. Sales of grinding machines and machining centers, rolling and specialized machines were both down by 8.0% and 30.1% YoY to JPY2.8bn and JPY3.5bn in FY24, respectively.