Casio Computer (CSIOF.PK, CSIOY.PK), on Tuesday, reported that FY24 profit attributable to owners of parent declined to 11.0 billion Yen from 13.1 billion Yen last year. On a per share basis, earnings fell to 50.91 Yen from 54.65 Yen earned a year ago.
Meanwhile, net sales for the year amounted to 268.8 billion Yen, higher than the previous year's sales of 263.8 billion Yen.
In the company's Timepiece business, the slowdown in the Chinese economy had a significant impact on sales in the surrounding countries, particularly an impact on G-SHOCK sales. The challenging consumption environment in the Chinese market, which has slowed rapidly since the end of last year, continued in the fourth quarter.
Looking ahead, the company projects FY March 2025 net sales to be 275.0 billion Yen with operating profit of 16.0 billion Yen and OPM of 5.8%.
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