Koito’s net profit in FY 2023-24 rises 37.8% to $270 million

The Japan-based lighting supplier recorded higher sales in all regions except in mainland China where continued sluggish sales of Japanese vehicles impacted its financial performance

Koito Manufacturing has reported 37.8% year-over-year increase in net profit to ¥40.9 billion ($270 million), the Japanese based automotive lighting supplier said in a press release. Net sales increased 9.9% year over year to ¥950.3 billion. Higher sales helped Koito record 19.5% year-over-year growth in operating income of ¥60 billion.