Strengthening sales in growth markets, particularly Asia

「Sales increased in the automotive components business. Sales of transmission belts for two-wheel vehicles and multipurpose four-wheel vehicles remained strong in each region. In addition, sales of products supporting vehicle electrification, including belts for driving electric units in four-wheel vehicles such as EPS and belts for rear-wheel drives in electric two-wheel vehicles, remained firm. Sales also increased in the industrial machinery business, driven by higher sales of V-belts and timing belts in Asia, including China. As a result, segment sales were ¥29,323 million, up 18.7% year on year, and segment profit was ¥3,851 million, up 81.7%.」

「Revenue from the overseas belt business was ¥50,787 million, an increase of 4.5% from the previous consolidated fiscal year.」

「We are working to reorganize our production and logistics sites with the aim of achieving both total cost reductions and business continuity, and are further expanding this initiative into a reorganization of the global supply chain, including raw-material procurement.」

「In the industrial machinery field, revenue increased. The launch of new products in the agricultural market and the acquisition of new customers contributed to the increase. In Southeast Asia, market inventory adjustments also progressed and are moving toward completion. As a result, segment revenue was ¥24,701 million, up 0.7% year on year, and segment profit was ¥2,119 million, up 20.0%.」

「Sales in the overseas belt business increased 10.6% from the previous consolidated fiscal year to ¥48,595 million. In the automotive components business, sales of belts for driving electric units in four-wheel vehicles, including EPS, were strong in China and the United States. Sales of belts for rear-wheel drives in electric two-wheel vehicles were also strong in India.」

「In the automotive components business, sales for new vehicles were sluggish in Southeast Asia due to declining gasoline vehicle sales and higher loan interest rates. In contrast, sales of belts for electric units in four-wheel vehicles were strong in China and the United States. Sales of belts for rear-wheel drives in electric two-wheel vehicles were also strong in India, resulting in higher sales for the automotive components business as a whole.」

「Automotive belt sales in Asia for the replacement market were sluggish due to the impact of inventory adjustments in the market, but sales increased in China, the United States and Europe as new demand for four-wheel vehicles was secured. Industrial belt sales declined in Asia, China and Europe due to weak market conditions in addition to inventory adjustments in the market. Sales of belts for office automation equipment also declined due to customer production cuts. As a result, segment sales were ¥33,154 million, down 4.4% year on year, and segment profit was ¥1,839 million, down 41.5%.」

「Automotive belt sales increased in Europe and the United States as new demand for four-wheel vehicles was secured. Sales also increased in Asia as products supplied for installation by automakers performed well. Industrial belt sales declined in Asia, China and Europe due to worsening market conditions. Sales of belts for office automation equipment also declined due to customer production cuts. As a result, segment sales were ¥22,424 million, down 4.1% year on year, and segment profit was ¥1,352 million, down 43.7%.」

「Compared with the same period of the previous year, sales increased in China as a rebound from the decline caused by last year's lockdown in Shanghai, but sales and profit declined in Europe, the United States and other Asian regions due to inventory adjustments in the replacement market and other factors. Overall results were below those of the same period of the previous year. Automotive belt sales increased in Europe and Asia as new demand for four-wheel vehicles was secured. In the United States, sales declined due to inventory adjustments in the general replacement market and other factors. Industrial belt sales declined in Asia due to inventory adjustments and other factors in the replacement market. Sales of belts for office automation equipment also declined due to customer production cuts. As a result, segment sales were ¥11,049 million, down 0.3% year on year, and segment profit was ¥647 million, down 51.3%.」

「Sales in the overseas belt business increased 21.3% from the previous consolidated fiscal year to ¥44,246 million.」

「Industrial belt sales increased in Southeast Asia, Europe and the United States as the company worked to expand new demand and sales. Sales of belts for office automation equipment also increased as customer production recovered following the resolution of semiconductor shortages. As a result, aided by the weaker yen, segment sales were ¥34,685 million, up 29.5% year on year, and segment profit was ¥3,145 million, up 22.4%.」

「Revenue from general industrial belts increased as the company worked to expand aftermarket sales, primarily in Southeast Asia. Revenue from belts for office automation equipment also increased as customer production recovered. As a result, including the positive impact of the weaker yen, segment revenue was ¥23,387 million, up 30.4% year on year, and segment profit was ¥2,399 million, up 28.2%. 」

「Compared with the same period of the previous year, revenue declined in China owing to the impact of lockdowns, but increased overall as sales rose in Europe, the United States and other parts of Asia. Revenue from automotive belts declined for motorcycles and multipurpose four-wheel vehicles in the United States, where customers reduced production because of parts shortages, but increased slightly overall owing to stronger aftermarket sales expansion in Europe and the United States and a recovery in Southeast Asia and India as the effects of COVID-19 eased. Revenue from general industrial belts declined in Asia excluding China, as inventory adjustments occurred in the aftermarket for agricultural machinery and other products. However, overall revenue increased as market conditions recovered in Europe and the United States and sales expansion efforts were strengthened. Revenue from belts for office automation equipment also increased, primarily in Southeast Asia. As a result, including the positive impact of the weaker yen, segment revenue was ¥11,084 million, up 17.9% year on year, and segment profit was ¥1,329 million, up 6.3%. 」

「Sales in the overseas belt business increased 23.2% from the previous consolidated fiscal year to ¥36,488 million.」

「In the overseas belt business, sales recovered significantly in both Asia and Europe and the United States compared with the same period of the previous year, when the impact of COVID-19 was substantial. Automotive belt sales remained strong in the United States for snowmobiles and multipurpose four-wheel vehicles, while sales for four-wheel vehicles increased as expanded sales in the replacement market proved effective. Sales for two-wheel vehicles also increased sharply in Southeast Asia and China. Sales for four-wheel vehicles exceeded the same period of the previous year despite customer production adjustments due to semiconductor shortages. Industrial belt sales increased in Asia and Europe as expanded sales in the replacement market proved effective. Sales of belts for office automation equipment also increased as customer production recovered. As a result, sales in this business were ¥26,793 million, up 25.0% year on year, and operating profit was ¥2,569 million, up 34.0%.」

「Revenue from the overseas belt business recovered sharply in both Asia and Europe and the United States compared with the previous year, when the impact of COVID-19 was significant. Demand for automotive belts for snowmobiles and multipurpose four-wheel vehicles recovered substantially in the United States, while revenue from motorcycle belts increased in Southeast Asia and China. Revenue from four-wheel vehicle belts also exceeded the previous year despite the impact of the semiconductor shortage. Revenue from general industrial belts increased in Asia and Europe through expanded aftermarket sales. Revenue from belts for office automation equipment also increased as customers' production recovered. As a result, revenue in this business was ¥17,931 million, up 33.9% year on year, and operating profit was ¥1,871 million, up 70.0%. 」

「In the overseas belt business, sales recovered significantly in both Asia and Europe and the United States compared with the same period of the previous year, when the impact of COVID-19 was substantial. Automotive belt sales in the United States recovered sharply for snowmobiles and multipurpose four-wheel vehicles, while sales of both two-wheel and four-wheel vehicle belts increased in Southeast Asia and China. Industrial belt sales also increased, mainly in Southeast Asia, where demand for agricultural machinery had continued to recover since the second half of the previous fiscal year. Sales of belts for office automation equipment also increased. As a result, sales in this business were ¥9,402 million, up 62.9% year on year, and operating profit was ¥1,250 million, up 174.7%.」

「In the overseas belt business, economic activity stagnated after lockdowns implemented by various countries at the beginning of the fiscal year, resulting in a decline in cumulative net sales for the business as a whole. However, in the third quarter, demand for automotive belts began to recover in the United States and China, and orders increased from the beginning of the fiscal year. Demand for general industrial belts for agricultural machinery also recovered in China and Southeast Asia, resulting in a slight increase on a cumulative basis. Conversely, sales of belts for office automation equipment declined in Asia. As a result, the segment reported net sales of ¥21,436 million, down 14.9% year on year, and operating income of ¥1,917 million, down 32.1%.」

「Revenue from automotive belts declined in Asia, the United States and Europe, as automakers' production adjustments sharply reduced production volumes. Revenue from general industrial belts was broadly unchanged from the previous year, supported by signs of recovery in demand for agricultural machinery in China and Southeast Asia. In contrast, revenue from belts for office automation equipment declined in Asia. As a result, revenue in this business was ¥13,388 million, down 22.7% year on year, and operating profit was ¥1,101 million, down 51.4%. 」

「Revenue from automotive belts declined in both Europe and the United States and Asia, as lockdowns imposed by governments halted automakers' operations and sharply reduced production. Demand for general industrial belts increased in China as economic activity resumed, but revenue declined in other regions, as did revenue from belts for office automation equipment. As a result, revenue in this business was ¥5,772 million, down 33.3% year on year, and operating profit was ¥455 million, down 57.8%. 」

「Revenue from automotive belts increased overall. Although sales of both four-wheel and motorcycle belts declined in Europe, sales of variable-speed belts for snowmobiles and multipurpose four-wheel vehicles remained solid in the United States, and motorcycle sales remained strong in Asia. Revenue from general industrial belts declined, including as a result of weaker demand for agricultural machinery in Asia. Revenue from belts for office automation equipment was flat. As a result, revenue in this business was ¥25,183 million, down 1.1% year on year, and operating profit was ¥2,824 million, down 5.4%. 」

「Revenue from automotive belts increased overall. Although revenue declined in Europe as new-vehicle sales fell, demand for variable-speed belts for snowmobiles and multipurpose four-wheel vehicles remained strong in the United States, while sales in Asia, centered on motorcycles, also remained strong. Revenue from general industrial belts declined, including as a result of weaker demand for agricultural machinery in Asia. Revenue from belts for office automation equipment also declined in China and Thailand. As a result, revenue in this business was ¥17,313 million, down 0.1% year on year, and operating profit was ¥2,266 million, down 3.6%. 」

「Revenue from automotive belts declined in Europe as new-vehicle sales fell, but increased overall because demand for variable-speed belts for snowmobiles and multipurpose four-wheel vehicles remained strong in the United States and revenue in Asia was broadly unchanged from the previous year. Revenue from general industrial belts declined, including as a result of weaker demand for agricultural machinery in Asia. Revenue from belts for office automation equipment also declined in China. As a result, revenue in this business was ¥8,659 million, down 0.5% year on year, and operating profit was ¥1,079 million, down 10.6%. 」

「Automotive belt sales performed well in the United States for two-wheel vehicles and increased in Europe as new demand for four-wheel vehicles was secured. In Asia, expanded sales of belts for two-wheel vehicles in Southeast Asia proved effective, resulting in higher sales overall. Industrial belt sales declined in Europe as replacement demand fell due to customer inventory adjustments, but increased in Asia owing to expanded replacement sales and new orders, resulting in higher sales overall. Sales of belts for office automation equipment declined due to lower sales to Japanese-affiliated customers. As a result, sales in this business were ¥25,467 million, up 3.2% year on year, and operating profit was ¥2,985 million, up 6.8%.」

「Revenue from automotive belts increased overall, as higher sales in Europe and the United States, driven by expanded motorcycle sales and new demand for four-wheel vehicles, outweighed strong motorcycle aftermarket demand in Asia. Revenue from general industrial belts declined in Europe and the United States, owing in part to customer inventory adjustments, but increased in Asia as expanded general aftermarket sales were supplemented by new orders, leaving overall revenue broadly unchanged from the previous year. As a result, revenue in this business was ¥17,338 million, up 3.3% year on year, and operating profit was ¥2,351 million, up 12.3%.」

「Automotive belt sales increased in Europe and the United States as the company secured new orders for four-wheel vehicles, and in Asia as sales of belts for two-wheel vehicles performed well. Industrial belt sales declined in Europe due to lower sales for agricultural machinery, but increased in Asia owing to sales for machinery and equipment and expanded sales in the general replacement market, resulting in higher sales for industrial belts overall. Sales of belts for office automation equipment also increased as customer production adjustments ran their course. As a result, sales in this business were ¥8,703 million, up 5.1% year on year, and operating profit was ¥1,207 million, up 26.8%.」

「Revenue from the overseas belt business rose 8.4% year on year to ¥31,974 million. Revenue from automotive belts increased in the United States, owing to new orders secured through proactive sales expansion, and in Asia, owing to successful aftermarket sales expansion and incorporation into new motorcycle models. Revenue also increased in Europe, resulting in higher overall revenue from automotive belts.」

「In Asia, sales of general industrial belts declined in China, but increased in Thailand, Indonesia and other Southeast Asian markets, as sales of belts for agricultural machinery and the aftermarket were strong. Sales of automotive belts also increased, supported by stronger aftermarket sales and higher demand for motorcycle applications. Sales of belts for office automation equipment were flat.」

「Against this backdrop, the Group has strengthened its sales activities, primarily overseas, while promoting the restructuring of its production system and working to improve management efficiency and achieve further cost reductions.」

「Against this backdrop, the Group has strengthened its sales activities, primarily overseas, while promoting the restructuring of its production system and working to improve management efficiency and achieve further cost reductions.」

「The Group is strengthening sales activities in growth markets, primarily in Asia, while promoting the restructuring of its production system」

「Against this backdrop, the Group has continued to strengthen its sales activities, primarily in Asia, while promoting the restructuring of its production system and working to improve management efficiency and achieve further cost reductions.」

「Against this backdrop, the Group has strengthened its sales activities, primarily in Asia, while promoting the restructuring of its production system and working to improve management efficiency and achieve further cost reductions.」

「Against this backdrop, the Group has strengthened its sales activities, primarily in Asia, while promoting the restructuring of its production system and working to improve management efficiency and achieve further cost reductions.」

「The Group is strengthening sales activities in growth markets, primarily in Asia, while promoting the restructuring of its production system」