Hoshizaki Announced In-Line Full-Year Result and Conservative 2018 Guidance
As expected, wide-moat Hoshizaki’s 2017 sales and operating income slightly beat guidance, with sales and operating income expanding 6.3% and 4.3%, respectively. The fourth-quarter operating margin improved by 2.5 percentage points year over year, after the fade of one-off expenses overseas. Hoshizaki’s Japan sales accelerated to 5.9% in 2017, thanks to (1) the dishwasher order from Seven-Eleven; (2) positive investment sentiments for restaurants; (3) and demand from the central kitchens of nurs...
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