Risks to the mat business from automakers’ production adjustments and recalls

「Although production volumes of some vehicle models declined because of the naphtha supply issue, overall sales volumes increased, partly because of the boost from minor model changes to vehicles equipped with our floor mats.」

「Sales volumes of automotive floor mats temporarily declined in connection with production cuts by customers affected by China's rare-earth export restrictions, but recovered to the previous year's level at an early stage. Price pass-through of higher raw material and utility costs also progressed to a certain extent. As a result, revenue was ¥578 million and operating profit was ¥25 million.」

「Sales volumes temporarily declined but recovered to approximately the previous year’s level at an early stage.」

「Sales of vehicle models purchased by customers affected by China's restrictions on rare-earth exports declined in the automotive floor mat business, resulting in a decrease in gross profit, but sales are now recovering.」

「In the mat business, as uncertainty increases regarding shipment volumes at the various automakers to which we supply floor mats, we will focus on securing orders when new vehicle models are refreshed.」

「Overseas sales were sluggish in Southeast Asia amid the economic slowdown and persistently high interest rates on auto loans, but export volumes increased in newly developed markets.」

「マット事業は、生産拠点であるタイ国の人件費高騰を受け、生産体制の合理化を図り立て直しを進めてまいりましたが、自動車業界における電気自動車の販売動向の変化など不透明な状況が続きました。」

「Sales of automotive floor mats increased in both Japan and overseas as shipment volumes benefited from the recovery in vehicle production accompanying the normalization of supply chains. Overseas sales to new customers increased, and the stronger dollar also contributed to higher revenue and profit. As a result, revenue was ¥1,786 million, an increase of ¥509 million, or 40.0%, from the same quarter of the previous year, and operating profit was ¥205 million, an increase of ¥153 million, or 298.2%.」

「Domestic sales of automotive floor mats increased as automakers' production recovered and shipment volumes grew due to easing semiconductor shortages and improved component procurement, resulting in higher revenue. Overseas sales also increased in both revenue and profit as new customer development progressed and the stronger dollar provided support.」

「Domestic shipment volumes of automotive floor mats continued to be affected by automakers' production cuts resulting from shortages of semiconductors and other components, but profit increased as a result of efforts to secure profit and other measures.」

「The Mats Business pursued restructuring by rationalizing its production system in response to soaring labor costs at its production base in Thailand. However, automakers' production adjustments caused by supply issues involving automotive components and other parts, as well as uncertainty over shipment conditions, continued.」

「Domestic sales of automotive floor mats were affected by automakers' production cuts, but overseas sales increased as shipment volumes grew, resulting in higher revenue. The proportion of premium products also declined, lowering the average selling price, but the Company worked to improve production efficiency. As a result, net sales were ¥1,060 million, up ¥133 million, or 14.4%, from the same quarter of the previous year, and operating profit was ¥0 million, compared with an operating loss of ¥85 million in the same quarter of the previous year.」

「In the Mats Business, production did not proceed as planned due to production stoppages and other disruptions caused by the spread of infections in Thailand, the production base. The Company also faced container shortages when shipping overseas.」

「Domestic sales of automotive floor mats followed a recovery trend, but overseas sales declined as some Southeast Asian markets remained sluggish.」

「The Mats Business faced higher labor costs and other increases at its production base in Thailand, but pursued cost reductions, including by soliciting early retirements, to establish a production and sales structure. Although the automotive industry remains uncertain due to semiconductor supply issues and other factors, the Company is closely monitoring developments.」

「Sales of automotive floor mats in Japan and overseas declined as shipment volumes fell. As a result, net sales were ¥927 million, down ¥464 million, or 33.4%, from the same quarter of the previous year, and the operating loss was ¥85 million, compared with an operating loss of ¥56 million in the same quarter of the previous year.」

「Sales of automotive floor mats in Japan and overseas declined as automakers suspended operations and sales fell. As a result, net sales were ¥692 million, down ¥250 million, or 26.5%, from the same quarter of the previous year, and the operating loss was ¥25 million, compared with an operating loss of ¥26 million in the same quarter of the previous year.」

「Sales of automotive floor mats in Japan and overseas declined as automakers suspended operations and sales fell amid the COVID-19 pandemic.」

「In the Mats Business, selling prices deteriorated due to a decline in demand resulting from the recent global downturn in the automotive industry, as well as increased sales of mats for mass-market vehicles such as kei cars and compact cars.」

「The impact on procured components of automakers' production adjustments, recall issues, the foreign exchange environment and soaring crude oil prices could significantly affect operating results.」

「However, automakers' production adjustments, recall issues, the foreign exchange environment and the impact of soaring crude oil prices on procured components could significantly affect profitability.」

「The impact on procured components of automakers' production adjustments, recall issues, the foreign exchange environment and soaring crude oil prices could significantly affect profitability.」

「However, automakers' production adjustments, recall issues, the foreign exchange environment and the impact of soaring crude oil prices on procured components could significantly affect profitability.」