NPC Inc’s.Summary of Financial Results for the First Quarter of Fiscal Year Ending August 31, 2016
During the quarter ended on November 30, 2015, the Japanese economy continued to recover gradually due to the improvement in employment and income situations along with the corporate profitability increase. However, uncertainties in overseas economy remained as the risk pushing down the Japanese economy. In the photovoltaic (“PV”) industry, to which the NPC Group (“the Group”) belongs, PV system installation demand has been growing throughout the world centering on Japan, USA, and China. Therefore, PV manufacturers, who are the customers of the Group, maintained the operating ratio at a high level, showing the move towards upgrading of the existing equipment to raise production capacity and capital expenditure on new equipment. Due to the expectation of residential PV market growth especially in the domestic market, increasing demands in OEM of PV panels in Japan have been seen among overseas and domestic manufacturers. Importance of maintenance of PV systems has been more and more recognized with the growing attention on long-term reliability of PV systems.
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