02 March 2022, Mumbai:
Shima Seiki, a prominent Japanese flat knitting technology behemoth, recorded a year-over-year gain of 41.40 percent in the third quarter of the current fiscal year.
The firm recently announced its financial results for Q3 '21, stating that worldwide sales of its technologies such as flat knitting machines, design systems, gloves, and sock knitting machines generated 22,506 million yen in revenue.
Flat knitting machines accounted for around 65 percent of total sales and generated 14,713 million yen in revenue, up 55 percent year on year; design systems contributed 2,113 million yen (9.38 percent of total value; and up 21.70 percent year on year); and glove and sock knitting machines accounted for 1,931 million yen in sales, up 33.10 percent year on year.
Shima Seiki's other technologies accounted for 3,748 million yen in income, representing a 15.80% yearly increase. Shima Seiki also said that Asia remained the leading market for its products in Q3 '21, bringing in 8,792 million yen in revenue, up 30.10 percent year on year.
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Europe was the company's second-largest market, with imports of 6,390 million yen from Shima Seiki totaling 6,390 million yen in Q3 '21, up 96.70 percent on a year-over-year basis.
Shima Seiki's sales revenues in Japan and the Middle East were 5,214 million yen (up 27.10 percent) and 967 million yen (up 13 percent), respectively, after Asian and European markets. Shima Seiki received roughly 1,142 million yen in sales income from the rest of the globe, up 20.60 percent year over year.
The firm also provided a prediction for FY '21, which runs from March 31, 2022, and stated that it expects to complete the year with sales revenues of 29,500 million yen, up 20.50 percent year over year.
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*Figures mentioned in the above article have been sourced from Shima Seiki & Apparel Resources.
