TOKYO -- Nippon Mektron said net sales rose 47% year-over-year in its fiscal first half ended Sept. 30.

The flex circuit fabricator and EMS reported revenue of 216.2 billion yen ($1.98 billion) for the period.

Operating income climbed 68.7% to 13.8 billion yen ($123.5 million) due to increased sales, lower costs and improved currency exchange rates.

The exchange rate of the yen to the dollar fell about 19% over the past year.

Demand for smartphones and wearables is expected to grow, said chairman Masato Tsuru, while prices are expected to decline due to increased competition and demand volatility. "In order to address these, the Group will seek to expand sales of products for automobiles and other new uses," he said.

The company forecast second half (October 2015 to March 2016) revenue of 230 billion yen, up 10.7% year-over-year. 

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