W-SCOPE Corporation announced consolidated financial results for the six months ended June 30, 2018. For the period, the company reported sales of JPY 4,227 million against JPY 4,490 million a year ago. Operating loss was JPY 875 million against operating profit of JPY 355 million a year ago. Ordinary loss was JPY 632 million against ordinary profit of JPY 165 million a year ago. Net loss before taxes and other adjustments was JPY 622 million against net profit before taxes and other adjustments JPY 173 million a year ago. Net loss attributable to owners of the parent was JPY 520 million against net profit attributable to owners of parent JPY 139 million a year ago. Net cash used in operating activities JPY 90 million against net cash provided by operating activities JPY 489 million a year ago. Purchase of tangible fixed assets JPY 4,076 million against JPY 6,351 million a year ago a year ago. The decrease was due to a drastic transformation of the EV-related market during the six months ended June 30, 2018, resulting in a sharp decline in production by the company's existing customers to which the company had continued the large-scale supply of iron phosphate batteries for applications such as EV buses in the short term. Net loss per share was JPY 16.68 against net profit per share JPY 4.48 a year ago.

For the year ending December 31, 2018, the company expects revenue of JPY 9,100 million, operating loss of JPY 2,400 million, ordinary loss of JPY 2,200 million, net loss attributable owners of parent of JPY 2,100 million and net loss per share of JPY 67.25 against revenue of JPY 14,000 million, operating loss of JPY 700 million, ordinary loss of JPY 500 million, net loss attributable owners of parent of JPY 400 million and net loss per share of JPY 12.85 provided earlier. Reasons for revision was the EV battery market in China, which is core market, entered reorganisation phase in first half of 2018.

For the year 2019, the company expects revenue of JPY 15,000 million to JPY 20,000 million and operating profit of JPY 100 million to JPY 3,500 million.

For the year 2020, the company expects revenue of JPY 22,000 million to JPY 30,000 million and operating profit of JPY 800 million to JPY 6,900 million.

For the year 2021, the company expects revenue of JPY 38,000 million to JPY 48,000 million and operating profit of JPY 7,000 million to JPY 15,000 million.