Jtekt Corporation Unsponsored ADR ( (JTEKY) ) has released its Q3 earnings. Here is a breakdown of the information Jtekt Corporation Unsponsored ADR presented to its investors.
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JTEKT Corporation is a prominent Japanese company engaged in the manufacturing and sale of automotive components, industrial bearings, and machine tools, operating primarily in the automotive and industrial sectors. The company recently released its financial results for the nine months ending December 31, 2024, highlighting a challenging period marked by a decline in revenue and profits. The overall revenue for this period stood at 1,385,066 million yen, marking a 1.9% decrease compared to the previous year, while business profit fell by 36% to 34,924 million yen. Profits attributable to the owners of the parent company saw a significant drop of 72.7%, amounting to 9,947 million yen. These declines were attributed to a slowdown in the automotive markets in Japan, China, and Europe, geopolitical tensions, and fluctuating interest and exchange rates. Despite challenges, the company’s machine tools segment showed positive growth with a 3.2% increase in revenue and a 12.8% rise in business profit, driven by increased sales in North America and Asia. Looking ahead, JTEKT Corporation has revised its full-year financial forecast, anticipating a further year-on-year revenue decrease of 1.7% to 1,860,000 million yen, alongside a planned dividend payout, demonstrating a commitment to shareholder returns amid global economic uncertainties.