I would like to offer my sincere gratitude to all of our shareholders for your support and understanding.
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, it continues to face a difficult situation that several manufacturers will suspend production and shipments or postpone new launches due to fraud issues among automobile manufacturers in domestic market, and Japanese manufacturers’ market share in the Chinese market will decline.
Under these circumstances, we recorded 0.8% consolidated accounting year on year decrease in sales, to 58,767 million yen due to decrease of production and sales volume by our customers.
152.1% year-on-year increase on operating income, to 1,145 million yen due to effect of cost reduction activity and improvements at the U.K. subsidiary.
Ordinary income was 1,362 million yen (ordinary loss of 43 million yen consolidated accounting year-on-year) due to improved operating income.
Net income attributable to owners of the parent was 409 million yen (net loss attributable to owners of the parent of 604 million yen consolidated accounting year-on-year) .
For FY24, we forecast sales of 77,000 million yen, operating income of 1,700 million yen, ordinary income of 1,500 million yen, and net income attributable to shareholders of the parent company of 600 million yen as previously announced on May 14th, 2024.
I would like to ask our shareholders for their continuous understanding and support.
February 12th, 2025
President & CEO
