Shima Seiki – a leading Japanese flat knitting technology juggernaut – has reported an increase of 41.40 per cent on yearly basis in October to December (Q3) period of its ongoing fiscal year.
The company recently released its financial results of Q3 ’21 and stated that it earned 22,506 million yen revenues from worldwide sales of its technologies such as flat knitting machines, design system, gloves and sock knitting machines, amongst others.
Of total sales, flat knitting machines constituted around 65 per cent and clocked 14,713 million yen revenues with 55 per cent Y-o-Y; design system contributed 2,113 million yen (9.38 per cent of total value; and up 21.70 per cent Y-o-Y); glove and sock knitting machine shared 1,931 million yen with 8.58 per cent sales composition ratio and noted 33.10 per cent yearly growth.
All other technologies of Shima Seiki collectively accounted for 3,748 million yen revenues, noting 15.80 per cent annual growth.
Shima Seiki further unveiled that Asia remained the top market for its products in Q3 ’21 that helped the company fetch 8,792 million yen revenues, noting 30.10 per cent Y-o-Y growth.
Europe was the second top market for the Japanese company that imported 6,390 million yen worth of products from Shima Seiki in Q3 ’21 and grew by around 96.70 per cent on yearly note.
Japan and Middle-East followed Asian and Europe as the sales revenues of Shima Seiki in these countries valued 5,214 million yen (up 27.10 per cent) and 967 million yen (up 13 per cent), respectively. Rest of the world contributed around 1,142 million yen sales revenues for Shima Seiki, witnessing 20.60 per cent Y-o-Y increase.
The company further released forecast for FY ’21, ending 31 March 2022, and shared it may conclude the year with 29,500 million yen sales revenues, with 20.50 per cent Y-o-Y growth.