Kurita Water’s Profit Falls as Capital Investment in Japan SlowsChisaki Watanabe
Kurita Water Industries Ltd., a Japanese water systems provider, said first-quarter profit fell 49 percent amid sluggish capital investment in Japan and economic uncertainty in China and Europe.
Net income declined to 1.80 billion yen ($18 million) in the three months ended June 30, from 3.51 billion yen in the same period a year ago, the Tokyo-based company said in a statement. Revenue fell 9.2 percent to 36.6 billion yen.
The company kept its forecast for full-year net income and revenue unchanged at 14 billion yen and 191 billion yen, respectively. Operating profit in the first quarter dropped 41 percent to 2.57 billion yen.
Kurita makes and sells water-treatment equipment and products including water purification and soil remediation systems.