Globeride – the new name for the former Daiwa Seiko – reports a net profit of ¥294 million (€2.7m-$3.3m) for the fiscal year through last March after operating earnings fell by 21 percent to ¥2.33 billion (€21.3m-$26.0m) on 6.5 percent lower revenues of ¥62.32 billion (€569.0m-$695.5m). The company’s sales should continue to decline by an expected rate of one percent, but net income is budgeted to increase by 36 percent to ¥400 million (€3.7m-$4.5m).