Japan’s Nitto Denko Corp, an Apple Inc supplier that makes industrial films and tapes, expects its reliance on volatile business in display screens to ease as it courts customers in autos and other industries, its chief executive said. The maker of touch-panel films expects its optronics division, which supplies producers of screens for smartphones, tablets and TVs, to account for about half its total revenue in three years, down from 60 percent in its latest results, Nitto Denko President Hideo Takasaki said in an interview on Tuesday. That would mean roughly flat sales for the screen sector, while the company’s latest three-year business plan, announced this month, calls for annual growth of more than 10 percent to the auto sector. Nitto Denko’s shares lost nearly half their value in the final months of last year after the company twice cut its profit guidance, hit by a sudden downturn in its business with producers of mobile device displays.
Nitto Denko to ease reliance on display business
27
May
2014
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