Japan Display Inc. announced its fourth quarter and full year financial results for fiscal year 2017 ended on March 31, 2018. Net sales for Q4 FY17 were ¥151.9 billion ($1.38 billion), a decrease of 36.7%, compared to ¥240.2 billion ($2.18 billion) reported in Q4 FY16. Net loss for Q4 FY17 was ¥146.6 billion ($1.33 billion), compared to the net loss of ¥22.3 billion ($200 million) in Q4 FY2016.
Net sales for FY17 were ¥717.5 billion ($6.51 billion), a decline of 18.9%, compared to ¥884.4 billion ($8.02 billion) reported in FY16. The net loss for FY17 was ¥247.24 billion ($2.24 billion), compared to the net loss of ¥31.7 billion ($290 million) in FY16.
The company saw a decline in sales in both mobile devices (down 22.6% YoY) and automobile and non-device categories (down 1.5% YoY). Sales mainly declined due to factors such as major customers adopting OLED, immense competition in display market, weak smartphone shipments in China and seasonal factors.
Looking forward to FY2018 guidance, net sales are expected to grow by 10% to 20% year on year.
