Expanding the European Business Base by Making the Spanish Business a Consolidated Subsidiary
First written in FY2016. 11 of 32 entries say "Worsened", first in FY2019-Q1. Latest entry: FY2025.
Nichirin moved to the "Worse" side of this theme in 2019, 5 years before the typical company in this theme (2024).
29 other companies' latest entry also says "Advanced".
- FY2025AdvancedAnnual report
「Due to increased sales to European manufacturers, revenue was ¥8,035 million (¥6,841 million in the previous consolidated fiscal year), and operating profit was ¥175 million (¥40 million in the previous consolidated fiscal year). Deliveries of two-wheeled vehicle products to BMW also began.」
Revenue and operating profit increased due to higher sales to European manufacturers, and the start of deliveries of two-wheeled vehicle products to BMW was also reported. - FY2025-H1AdvancedAnnual report
「Increased sales to European manufacturers resulted in net sales of ¥4,127 million (¥3,610 million in the previous year) and operating income of ¥99 million (¥23 million in the previous year). Deliveries of products for BMW motorcycles also began.」
The European business exceeded the same period of the previous year in both revenue and operating profit, while the start of deliveries of two-wheeled vehicle products for BMW further expanded its European business base. - FY2024Higher revenue and lower operating profitAnnual report
「Europe As the shift toward EVs was being reconsidered following the withdrawal of subsidies and other factors, revenue was ¥6,841 million (¥6,318 million in the previous consolidated fiscal year), driven by increased sales to customers whose HV vehicle sales rose and higher sales of components for two-wheeled vehicles. Operating profit was ¥40 million (¥89 million in the previous consolidated fiscal year).」
The European business increased revenue due to higher sales to customers whose HV vehicle sales increased and higher sales of components for two-wheeled vehicles, while operating profit declined from ¥89 million to ¥40 million. - FY2024-H1Higher revenue and lower operating profitAnnual report
「Europe Despite concerns over the situation in Ukraine and the Middle East, revenue was ¥3,610 million (¥3,200 million in the same period of the previous year), and operating profit was ¥23 million (¥38 million in the same period of the previous year).」
While the European business exceeded the same period of the previous year in revenue, operating profit declined from ¥38 million to ¥23 million. - FY2024-Q1AdvancedAnnual report
「Europe Despite concerns over the situation in Ukraine and the Middle East, revenue was ¥1,846 million (¥1,590 million in the same quarter of the previous year), and operating profit was ¥43 million (¥22 million in the same quarter of the previous year).」
Although geopolitical concerns remained, the European business exceeded the same period of the previous year in both revenue and operating profit, improving the performance of its European business base. - FY2023-Q3RestatedAnnual report
「Europe As the situation in Ukraine and the shortage of semiconductors and other components eased, revenue was ¥4,655 million (¥3,504 million in the same quarter of the previous year), and operating profit was ¥26 million (operating loss of ¥203 million in the same quarter of the previous year).」
The European business increased revenue and continued to generate an operating profit, compared with an operating loss in the same period of the previous year. - FY2023-Q2MitigatedAnnual report
「Europe As customer production adjustments due to the situation in Ukraine and the supply shortage of semiconductors and other components showed signs of improvement, revenue was ¥3,200 million (¥2,436 million in the same quarter of the previous year), and operating profit was ¥38 million (operating loss of ¥124 million in the same quarter of the previous year).」
As customer production adjustments in Europe showed signs of improvement, revenue increased and the business shifted from an operating loss of ¥124 million in the same period of the previous year to an operating profit of ¥38 million. - FY2023-Q1MitigatedAnnual report
「Europe As customer production adjustments due to the situation in Ukraine and the supply shortage of semiconductors and other components showed signs of improvement, revenue was ¥1,590 million (¥1,244 million in the same quarter of the previous year), and operating profit was ¥22 million (operating loss of ¥0 million in the same quarter of the previous year).」
As customer production adjustments due to the situation in Ukraine and component shortages showed signs of improvement, the European business shifted from an operating loss in the same period of the previous year to an operating profit. - FY2022WorsenedAnnual report
「In addition to several Japanese customers having closed their European plants since the previous year, the business was affected by the supply shortage of semiconductors and other components and customer production adjustments due to the situation in Ukraine. Revenue in local-currency terms declined 13.0%, and revenue was ¥4,720 million (¥5,104 million in the previous consolidated fiscal year). In addition to the decline in revenue, higher raw material and energy prices resulted in an operating loss of ¥290 million (operating loss of ¥11 million in the previous consolidated fiscal year).」
In Europe, customer plant closures, component shortages, production adjustments due to the situation in Ukraine, and higher raw material and energy prices combined to reduce revenue and widen operating loss for the full fiscal year. - FY2022-Q3WorsenedAnnual report
「Europe In addition to several Japanese customers having closed their European plants during the previous year, the continuing supply shortage of semiconductors and other components and customer production adjustments due to the situation in Ukraine caused revenue in local-currency terms to decline 15.3%. Revenue was ¥3,504 million (¥3,948 million in the same quarter of the previous year), while higher raw material and energy prices resulted in an operating loss of ¥203 million (operating loss of ¥46 million in the same quarter of the previous year).」
In Europe, customer plant closures, component shortages, and production adjustments due to the situation in Ukraine continued, reducing revenue. Combined with higher raw material and energy prices, these factors widened operating loss from ¥46 million in the same period of the previous year to ¥203 million. - FY2022-Q2WorsenedAnnual report
「Europe In addition to several Japanese customers having closed their European plants during the previous year, the supply shortage of semiconductors and other components and customer production adjustments due to the situation in Ukraine resulted in revenue of ¥2,436 million (¥3,018 million in the same quarter of the previous year) and an operating loss of ¥124 million (operating profit of ¥51 million in the same quarter of the previous year).」
Plant closures by European customers, component supply shortages, and production adjustments due to the situation in Ukraine reduced revenue, resulting in a shift from an operating profit in the same period of the previous year to an operating loss. - FY2022-Q1WorsenedAnnual report
「Europe In addition to several Japanese customers having closed their European plants during the previous year, the supply shortage of semiconductors and other components and customer production adjustments due to the situation in Ukraine resulted in revenue of ¥1,244 million (¥1,637 million in the same quarter of the previous year) and an operating loss of ¥0 million (operating profit of ¥40 million in the same quarter of the previous year).」
The closure of European plants by several Japanese customers, component shortages, and customer production adjustments due to the situation in Ukraine reduced revenue in Europe, which shifted from an operating profit in the same period of the previous year to an operating loss. - FY2021MitigatedAnnual report
「In the European market, automakers were forced to curb production due to the semiconductor shortage and were also affected by higher costs, including soaring logistics expenses. Despite these conditions, performance was recovering compared with the previous year, which was affected by COVID-19. Revenue was ¥5,104 million (¥4,854 million in the previous consolidated fiscal year), while operating loss was ¥11 million (operating loss of ¥323 million in the previous consolidated fiscal year), reflecting improved profitability through the use of a contract manufacturing plant in Bulgaria and optimized procurement from group companies.」
Through the use of a contract manufacturing plant in Bulgaria and optimized procurement from group companies, the operating loss in Europe narrowed from ¥323 million in the previous fiscal year to ¥11 million. - FY2021-Q3MitigatedAnnual report
「Although performance improved through higher profitability using a contract manufacturing plant in Bulgaria and optimized procurement from group companies, higher logistics costs resulted in an operating loss of ¥46 million (operating loss of ¥242 million in the same quarter of the previous year).」
Despite the impact of the semiconductor shortage and higher logistics costs, the European business narrowed its operating loss through the use of a contract manufacturing plant in Bulgaria and optimized procurement from group companies. - FY2021-Q2MitigatedAnnual report
「In the European market, customer production was also recovering, resulting in net sales of ¥3,018 million (¥2,079 million in the same quarter of the previous year). Productivity improvements at the Spanish subsidiary and optimized sourcing from the company and its Asian subsidiaries resulted in operating income of ¥51 million (an operating loss of ¥191 million in the same quarter of the previous year).」
In addition to the recovery of customer production in the European market, improved productivity at the Spanish subsidiary and optimized intra-group procurement are improving the European business from an operating loss to an operating profit. - FY2021-Q1MitigatedAnnual report
「In the European market, customer production was also recovering, resulting in net sales of ¥1,637 million (¥1,487 million in the same quarter of the previous year). Productivity improvements at the Spanish subsidiary and optimized sourcing from the company and its Asian subsidiaries resulted in operating income of ¥40 million (an operating loss of ¥42 million in the same quarter of the previous year).」
In addition to the recovery of customer production in the European market, improved productivity at the Spanish subsidiary and optimized intra-group procurement improved the European business from an operating loss in the same period of the previous year to an operating profit. - FY2020WorsenedAnnual report
「In Europe, customers simultaneously suspended production from late March through late May due to the impact of COVID-19, and customer demand from June onward also varied. As a result, revenue was ¥4,854 million (¥5,345 million in the previous consolidated fiscal year), and operating loss was ¥323 million (operating loss of ¥289 million in the previous consolidated fiscal year).」
The European business reported lower revenue due to customer production stoppages and uneven demand, while operating loss widened from ¥289 million in the previous year to ¥323 million. - FY2020-Q3WorsenedAnnual report
「In the European market, customers collectively halted production from late March through late May due to the impact of COVID-19, and customer demand from June onward was uneven. As a result, revenue was ¥3,319 million (¥3,873 million in the same quarter of the previous year), and the operating loss was ¥242 million (operating loss of ¥104 million in the same quarter of the previous year).」
In Europe, collective customer production stoppages and uneven demand reduced revenue, while the operating loss widened from ¥104 million in the same period of the previous year to ¥242 million. - FY2020-Q2WorsenedAnnual report
「In the European market, customers collectively halted production from late March through late May due to the impact of COVID-19, and customer demand from June onward was uneven. As a result, revenue was ¥2,079 million (¥2,735 million in the same quarter of the previous year), and the operating loss was ¥191 million (operating loss of ¥72 million in the same quarter of the previous year).」
Customer production stoppages and uneven demand recovery in Europe reduced revenue and widened the operating loss from the same period of the previous year. - FY2020-Q1WorsenedAnnual report
「In Europe, although customers suspended production in late March due to the impact of COVID-19, new orders from PSA contributed to net sales of ¥1,487 million (¥1,454 million in the same quarter of the previous year) and an operating loss of ¥42 million (an operating loss of ¥36 million in the same quarter of the previous year).」
While revenue exceeded the same period of the previous year due to new orders from PSA, the European business's operating loss widened from ¥36 million to ¥42 million, partly due to the impact of customer production stoppages caused by COVID-19. - FY2019ReframedAnnual report
「To improve profitability through the restructuring of the European business, the Company established the European Business Improvement Office in September 2019.」
The focus has shifted from expanding the European business following the consolidation of the Spanish subsidiary to restructuring the European business, including the cessation of production in the UK and the transfer of business rights, and improving profitability. - FY2019-Q3WorsenedAnnual report
「Europe As both Japanese and European manufacturers continued to reduce production amid weak demand, revenue was ¥3,873 million (¥4,490 million in the same quarter of the previous year). Due to costs associated with launching a new model, the segment posted an operating loss of ¥104 million (operating profit of ¥25 million in the same quarter of the previous year).」
Declining production by European and Japanese manufacturers continued, reducing revenue and widening the operating loss from the operating profit recorded in the same period of the previous year. - FY2019-Q2WorsenedAnnual report
「Europe As both Japanese and European manufacturers reduced production amid weak demand, revenue was ¥2,735 million (¥3,203 million in the same quarter of the previous year). Due to costs associated with launching a new model, the segment posted an operating loss of ¥72 million (operating profit of ¥36 million in the same quarter of the previous year).」
The loss widened further from the previous quarter, when declining production by European and Japanese manufacturers caused revenue to fall and the segment moved from operating profit to an operating loss. - FY2019-Q1WorsenedAnnual report
「Europe As both Japanese and European manufacturers reduced production amid weak demand, revenue was ¥1,454 million (¥1,723 million in the same quarter of the previous year). Due to costs associated with launching a new model, the segment posted an operating loss of ¥36 million (operating profit of ¥54 million in the same quarter of the previous year).」
Revenue declined as European and Japanese manufacturers reduced production, and the segment moved from operating profit to an operating loss. - FY2018-Q3AdvancedAnnual report
「Hutchinson Nichirin Brake Hoses, a consolidated subsidiary of the Company, became a wholly owned subsidiary from the current third-quarter consolidated accounting period and changed its corporate name to Nichirin Spain S.L.」
The Spanish subsidiary became a wholly owned subsidiary from the current third-quarter consolidated accounting period and changed its corporate name to Nichirin Spain S.L. This is described as concrete progress in expanding the European business base. - FY2018-Q2RestatedAnnual report
「⑤ Europe Revenue was ¥3,203 million (¥3,101 million in the same quarter of the previous year), but operating profit was ¥36 million (¥93 million in the same quarter of the previous year) due to upfront costs associated with newly awarded products and other factors.」
Revenue in the European business exceeded the same period of the previous year, while operating profit fell below the same period of the previous year due to upfront costs associated with newly awarded products and other factors. The previous trend of revenue growth following the consolidation and the burden of upfront costs continued. - FY2018-Q1RestatedAnnual report
「⑤ Europe Due to steady customer orders, revenue was ¥1,723 million (¥1,655 million in the same quarter of the previous year), while operating profit was ¥54 million (¥60 million in the same quarter of the previous year).」
For the European business following the consolidation of the Spanish subsidiary, customer orders remained steady and revenue increased. Operating profit, however, was below the same period of the previous year. - FY2017AdvancedAnnual report
「Following the consolidation of Hutchinson Nichirin Brake Hoses in October 2016 and steady customer orders, revenue was ¥5,938 million (¥3,102 million in the previous consolidated fiscal year). However, operating profit was ¥121 million (¥117 million in the previous consolidated fiscal year), partly due to goodwill amortization arising from the consolidation.」
European revenue after the consolidation of the Spanish subsidiary rose to ¥5,938 million from ¥3,102 million in the previous year, and operating profit was ¥121 million. The impact of goodwill amortization continued. - FY2017-Q3AdvancedAnnual report
「Following the consolidation of Hutchinson Nichirin Brake Hoses from October of the previous year and steady customer orders, revenue was ¥4,451 million (¥1,829 million in the same quarter of the previous year). However, operating profit was ¥105 million (¥93 million in the same quarter of the previous year), partly due to goodwill amortization arising from the consolidation.」
Following the consolidation of the Spanish business, customer orders remained steady, and revenue and operating profit in the European segment exceeded the same period of the previous year. While the increase in revenue reflects the consolidation, goodwill amortization is also reported. - FY2017-Q2AdvancedAnnual report
「Following the consolidation of Hutchinson Nichirin Brake Hoses from October of the previous year and steady customer orders, revenue was ¥3,101 million (¥1,359 million in the same quarter of the previous year). However, operating profit was ¥93 million (¥96 million in the same quarter of the previous year), partly due to ¥25 million in amortization of goodwill arising from the consolidation.」
Following the consolidation of the Spanish business, customer orders remained steady and revenue in the European segment significantly exceeded the same period of the previous year. Operating profit was below the same period of the previous year, partly due to the impact of goodwill amortization. - FY2017-Q1AdvancedAnnual report
「Following the consolidation of Hutchinson Nichirin Brake Hoses from October of the previous year and steady orders from European manufacturers, revenue was ¥1,655 million (¥679 million in the same quarter of the previous year) and operating profit was ¥60 million (¥41 million in the same quarter of the previous year).」
Following the consolidation of the Spanish business in the previous year, orders from European manufacturers remained steady, and revenue and operating profit in the European segment exceeded the same period of the previous year. - FY2016First statedAnnual report
「Hutchinson Nichirin Brake Hoses, previously an equity-method affiliate of the Company, became a consolidated subsidiary of the Company on 20 October 2016 through the additional acquisition of shares.」
The Company acquired additional shares in its Spanish equity-method affiliate, making it a consolidated subsidiary on 20 October 2016.