FY2024-Q1 Orders Down, Revenue Up, Losses Narrow

「As a result, in terms of orders, the company secured contracts for functional-material heat-treatment furnaces for the domestic semiconductor industry, regenerative exhaust-gas treatment systems for domestic machinery customers and heating-furnace modification work for the domestic steel industry, but orders received declined to ¥5,712 million, or 90.2% of the prior-year period, due to the small number of large new-build projects. In terms of revenue, work progressed on hydrogen-based gas heating equipment and energy-saving heating furnaces for the domestic steel industry, continuous annealing equipment, functional-material heat-treatment furnaces related to semiconductors and hot-blast generators for the overseas steel industry, bringing revenue up to ¥4,741 million, or 128.4% of the prior-year period. In terms of earnings, mainly due to higher revenue, the company reported an operating loss of ¥626 million, compared with a loss of ¥733 million in the prior-year period, an ordinary loss of ¥491 million, compared with a loss of ¥614 million, and a quarterly net loss attributable to owners of the parent of ¥283 million, compared with a loss of ¥393 million.」