For the financial year ended 31 March 2022, net sales at the GA business were up 15.8% at ¥43.32bn (£269.5m), while operating profits jumped by 205.5% to ¥1.64bn. 

By comparison, in the mainly pre-pandemic financial year ended March 2020 the figures were ¥45.6bn and ¥1.5bn, respectively. 

Screen said the improvements were due to “increased sales of equipment and recurring business, mainly ink, affected by a recovery in customers’ operations and capital expenditure appetite.”

The manufacturer said it planned to strengthen its print-on-demand strategy and stabilise recurring business.

The Japanese manufacturer’s sale to Agfa of its Inca Digital Printers and Screen GP IJC businesses in the UK, and the Inca-related service business in the US, came after the year-end. 

Screen reiterated its previous statement that the sale is expected to complete by the end of this month. 

The overall Screen group, including its semiconductor, OLED and LCD displays, and PCB businesses posted sales up 28.6% at ¥411.87bn, with operating income up 150% at ¥61.27bn.