Further strengthening the overseas business and expanding overseas bases and product offerings

「In overseas operations, sales of Japanese automakers in China remained weak as the shift to electric vehicles progressed. However, promotional activities targeting new customers in North and Central America proved effective, supporting solid sales of car mats and floor carpets. In Southeast Asia, the launch of new vehicle models contributed to sales despite sluggish sales volumes at Japanese automakers amid each country’s social and economic conditions, resulting in a 3.1% year-on-year increase in overseas sales.」

「In automotive-related operations, floor carpets launched at the North and Central American bases in the prior fiscal year contributed to sales. In addition, coordination among Group companies enabled us to steadily capture recovering demand for rail and bus production, resulting in a 4.6% year-on-year increase in sales for automotive and vehicle interiors overall, to ¥32,591 million.」

「Strengthening coordination among domestic and overseas bases and expanding sales channels to foreign-affiliated automakers through overseas trade shows, presentations and other activities」

「As in the prior fiscal year, we continued preparations for mass production at the synthetic leather plant newly established by the Mexican subsidiary. At the Vietnam base, previously the main production plant for fiber-based heating products in the Functional Materials business, we also worked to establish a production system for automotive carpets and car mats with the goal of beginning mass production during the fiscal year. These efforts are intended to improve the profitability of the Vietnam base and strengthen an globally optimized supply system for automotive interior materials.」

「In overseas operations, business restructuring at bases in North and Central America proved effective. At the China bases, sales related to vehicles assembled in Japan increased despite the impact of difficulties faced by Japanese automakers. Although vehicle sales remained sluggish in Thailand and Indonesia, overseas sales increased 20.1% year on year, supported by foreign-exchange effects and sales of car mats and other priority decorative products, including the Group’s proprietary narrow-width fabric, “GRACE CORD.”」

「Production volumes at Japanese automakers continued to increase as semiconductor and component shortages eased, resulting in a 25.2% year-on-year increase in domestic sales. Overseas sales increased 20.4% year on year. Although Japanese automakers struggled in China, sales at the Group’s Chinese bases for vehicles assembled in Japan remained solid, while sales at bases in North and Central America and Southeast Asia increased and benefited from foreign-exchange effects.」

「In automotive-related operations, recovering production as semiconductor and component shortages eased resulted in a 27.6% year-on-year increase in domestic sales. Although Japanese automakers struggled in China, overseas sales increased 22.7% year on year, supported by higher production in North and Central America, foreign-exchange effects and solid vehicle sales in Southeast Asia.」

「In automotive-related operations, domestic production increased as semiconductor and component supply shortages eased, resulting in a 9.5% year-on-year increase in domestic sales. Overseas sales increased 25.0% year on year, supported by foreign-exchange effects and solid vehicle sales in Southeast Asia as the region recovered from the pandemic, despite changes in COVID-19 restrictions at the China bases and the impact of production during the launch of new vehicle models.」

「In overseas operations, foreign-exchange movements and the steady recovery of vehicle sales in Southeast Asia as the region emerged from the pandemic resulted in a 26.4% year-on-year increase in overseas sales.」

「Overseas production and sales increased and exceeded the prior-year period. Although China was affected by lockdowns, the impact of foreign-exchange movements and solid vehicle sales in Southeast Asia resulted in a 16.2% year-on-year increase in overseas sales.」

「Compared with the prior-year period, vehicle sales increased in Indonesia, partly due to tax cuts on vehicle purchases, and recovered in Thailand. Sales also remained solid in North and Central America, resulting in a 24.1% year-on-year increase in overseas sales.」

「Automotive-related production contracted significantly in various regions in the prior-year period due to the spread of COVID-19, but recovered in the first quarter under review. As production volumes by Japanese automakers increased both in Japan and overseas, domestic sales rose 16.8% year on year. Overseas sales increased 90.9% year on year, supported by continued production growth in China and recovering vehicle sales in North America and Indonesia.」

「Recovery continued steadily in China, but recovery was slow in Thailand and Indonesia from the production downturn caused by lockdowns. In North America, production temporarily declined due to cold weather and semiconductor shortages, resulting in a 21.1% year-on-year decline in overseas sales.」

「Although production volumes were generally recovering, with regional differences, and China in particular continued to recover steadily, overseas sales declined 26.7% year on year because lower sales associated with global lockdowns had a significant impact.」

「Although production volumes were generally recovering, with regional differences, and China in particular continued to recover steadily, overseas sales declined 37.8% year on year because production cuts and lower sales associated with global lockdowns had a significant impact.」

「In China, economic recovery began ahead of other countries, but sales declined year on year. Production also contracted sharply in the United States, Mexico, Thailand, Indonesia and India, resulting in a 59.6% year-on-year decline in overseas sales.」

「In the automotive-related business, domestic sales declined 13% from the previous fiscal year due to prolonged U.S.-China trade friction and lower global vehicle production caused by COVID-19. Sales also contracted at the overseas bases in the United States, China, Thailand and India, resulting in a 10% decline in overseas sales from the previous fiscal year.」

「Overseas sales declined 8% year on year, as sales contracted in the United States, China, India and Thailand due to lower global vehicle production resulting from the prolonged U.S.-China trade friction.」

「Overseas sales declined 6% year on year, affected by lower global vehicle production resulting from the prolonged U.S.-China trade friction, particularly as sales contracted in China, India and Thailand.」

「Overseas sales declined 6% year on year, as sales contracted in the United States, China, India and Thailand, partly due to the global economic environment.」

「In the automotive-related business overall, sales and operating profit both exceeded the previous fiscal year. Overseas, expanded sales by Japanese automakers in China proved effective, while business remained solid in Thailand. Mexico also performed well on orders for new products, and operating profit in North and Central America exceeded the previous fiscal year. Accordingly, overseas sales and operating profit both exceeded the previous fiscal year.」

「Overseas sales and operating profit both exceeded the year-earlier levels. China remained solid in Asia, earnings at U.S. subsidiary Suminoe Textile of America Corporation improved in North America, and Mexico performed well on orders for new products.」

「Overseas sales and operating profit both exceeded the year-earlier levels. Despite concerns over the impact of U.S.-China trade friction, sales grew steadily in China, where Japanese automakers were expanding their market share, and in Thailand, where production was recovering. In North America, earnings at U.S. subsidiary Suminoe Textile of America Corporation improved, while sales in Mexico also remained strong.」

「In China, new vehicle production by Japanese automakers increased and business remained strong. Thailand also remained solid, partly because a newly consolidated subsidiary began operations in the previous fiscal year. In North America, although the sedan market in which Japanese automakers are strong was contracting, signs of earnings improvement emerged at U.S. subsidiary Suminoe Textile of America Corporation and other bases remained solid. As a result, overseas sales and operating profit both exceeded the year-earlier levels.」

「Overseas, U.S. subsidiary Suminoe Textile of America Corporation continued efforts to improve its earnings, while sales of Japanese-brand vehicles increased strongly in China and Thailand. As the seat-fabric business performed well, as it did domestically, overseas sales exceeded the year-earlier level.」

「Although U.S. auto sales declined slightly, sales of Japanese-brand vehicles in China remained strong, while orders for new vehicle models in Thailand contributed to higher sales.」

「Overseas sales increased, particularly in China, Thailand and Indonesia, against a backdrop of steady demand. At U.S. subsidiary Suminoe Textile of America Corporation (hereinafter “STA”), measures to contain labor costs and improve productivity are beginning to produce some results. Although the automotive-related business overall was affected by the yen’s appreciation, sales exceeded the previous fiscal year due to expanded sales channels for new products and a global production system.」

「Overseas sales increased particularly in Indonesia and India, but declined below the year-earlier level overall due to foreign-exchange effects. Operating profit exceeded the year-earlier level as cost-reduction and expense-cutting activities in China and Asia proved effective, despite higher labor costs and delays in productivity improvements at STA as part of efforts to improve its earnings.」

「In the automotive-related business, sales were below the year-earlier level overall, despite strong orders for new vehicle models in the overseas business and progress in expanding orders for new products and applications, due in part to the yen’s appreciation. Operating profit exceeded the year-earlier level as sales growth and cost reductions in Thailand and India proved effective, while the stabilization and improvement of STA’s business and earnings progressed, and the needle-punch carpet production line in Mexico commenced full-scale operations.」

「In the automotive-related business, domestic sales were below the year-earlier level, but overseas sales exceeded the year-earlier level as the expansion of new vehicle models, new products and new applications progressed as planned.」

「To strengthen its overseas business, the Group is expanding its overseas bases, particularly for its automotive interior business, while broadening the products handled at each base and pursuing business diversification.」