I would like to offer my sincere gratitude to all of our shareholders for your support and understanding. I hereby report to you FALTEC group FY23 3Q financial results and its summary.
Among the business environment surrounding our group, it continues to be uncertain due to high raw material and energy costs, rising labor and logistics costs, and sharp fluctuations in foreign exchange rates.
Automotive industry which our group belongs, production adjustments due to the frequent semiconductor supply shortages that occurred in FY22 have generally been resolved, and total production volume is on a gradual recovery trend. However, there are concerns about a decline in the market share of Japanese manufacturers in the Chinese market.
Under these circumstances, we recorded 11.8% accounting year on year increase in sales, to 59,257 million yen due to the recovery of production and sales volume by our customers.
Operating income was 454 million yen (operating loss of 997 million yen consolidated accounting year-on year) due to sales increase and effect of cost reduction activities.
Ordinary income was 43 million yen (ordinary loss of 1,029 million yen consolidated accounting year-on year) due to improved operating income despite the impact of foreign exchange losses.
Net loss attributable to owners of the parent amounted to 604 million yen (net loss attributable to owners of the parent of 1,574 million yen consolidated accounting year-on year) due to income taxes of 543 million yen and net income attributable to non-controlling interests of 113 million yen.
The forecast for FY23 remains unchanged from the forecasts announced on May 12, 2023, of 79,000 million yen in sales, 1,400 million yen in operating income, 1,300 million yen in ordinary income, and 300 million yen in net income attributable to shareholders of the parent company.
I would like to ask our shareholders for their continuous understanding and support.
February 9th, 2024
President & CEO
