Kurita Water Profit Drops 16% on Weak Japan ExpendituresChisaki Watanabe
Kurita Water Industries Ltd., a Tokyo water-systems provider, said profit fell 16 percent in the first half, hurt by weak capital expenditures among manufacturers in Japan.
Net income declined to 4.1 billion yen ($41.8 million) in the six months ended Sept. 30 from 4.9 billion yen a year earlier, the company said today in a filing. Revenue fell 8.3 percent to 82.8 billion yen.
Kurita’s major products and services suffered from a slow recovery in capacity utilization and weak expenditure among Japanese manufacturers, its main customers, the company said. Capital expenditures on water-treatment facilities were canceled or postponed in the electronic industry overseas.
The company on Oct. 11 reduced its forecast for full-year net income and revenue to 9 billion yen and 176 billion yen. Kurita makes and sells water-treatment equipment and products including water-purification and soil remediation systems.