Response to tariffs, material costs and production disruption at the North American subsidiary
First written in FY2019-Q3. 12 of 16 entries say "Advanced", first in FY2020. Latest entry: FY2026.
0 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「During the current medium-term management plan, the company will further advance structural reforms in automotive springs, including the turnaround of the North American subsidiary and optimization of the Chinese subsidiary,」
The company continues structural reforms in the overseas spring business by continuing the turnaround of the North American subsidiary and adding optimization of the Chinese subsidiary as a new priority issue. - FY2024-Q3AdvancedAnnual report
「In the fourth quarter, the North American subsidiary is expected to eliminate its loss through the resolution of strike-related effects, recovery production and continued efforts to pass costs through to selling prices and improve production costs. With domestic sales also expected to increase, operating profit for the spring business as a whole is expected to improve substantially from the approximately ¥100 million loss through the third quarter.」
In response to the North American subsidiary's problems, the company is proceeding with the resolution of strike-related effects, recovery production, passing costs through to selling prices and improving production costs, and expects the loss to be eliminated in the fourth quarter. - FY2024-Q2AdvancedAnnual report
「The North American subsidiaries' results improved substantially due to progress in passing higher costs through to selling prices and the resolution of production disruptions, resulting in a return to operating profitability.」
Regarding the response to the North American subsidiary, progress in passing costs through to selling prices and the resolution of production disruptions led to the concrete result of turning the subsidiary profitable on an operating basis. - FY2024-Q1AdvancedAnnual report
「Although the North American subsidiary's earnings improved substantially as production disruptions were resolved and progress was made in passing costs through to selling prices, the subsidiary still reported a loss because earnings did not recover to the assumed level, partly due to a renewed rise in material-market prices.」
Regarding the response to the North American subsidiary, the resolution of production disruptions and progress in passing costs through to selling prices emerged as improvements in earnings. While the effects of the measures were confirmed, the renewed rise in material-market prices still requires a response. - FY2023AdvancedAnnual report
「Earnings improved substantially in the fourth quarter as negotiations, including price increases for unprofitable products and the termination of related transactions, progressed.」
The North American subsidiary's turnaround measures progressed to securing stable inventories and negotiating price increases for unprofitable products and the termination of related transactions, resulting in a substantial improvement in fourth-quarter earnings. - FY2023-Q3RestatedAnnual report
「Regarding the North American subsidiary, the company is working to normalize production costs by securing stable inventories and otherwise resolving production disruptions, while also implementing measures such as raising prices for unprofitable products and ending related transactions, as it advances initiatives for the subsidiary's turnaround.」
The company continues turnaround measures for the North American subsidiary, including securing stable inventories, normalizing production costs, raising prices for unprofitable products and ending related transactions. - FY2023-Q2AdvancedAnnual report
「At the North American subsidiary, the Company is pursuing reconstruction measures, including securing stable inventories to resolve the production disruption, ending transactions involving unprofitable products and passing higher manufacturing costs through to selling prices.」
The North American subsidiary's turnaround measures have taken concrete shape through securing stable inventories, ending transactions involving unprofitable products and passing higher manufacturing costs through to selling prices. - FY2023-Q1AdvancedAnnual report
「Regarding production disruptions at the North American subsidiary, the company is implementing measures to resolve them, including securing stable inventories, and is advancing initiatives for the subsidiary's turnaround.」
The company has newly clarified that it is pursuing measures to resolve production disruptions at the North American subsidiary, such as securing stable inventories, along with turnaround measures. - FY2022-Q3AdvancedAnnual report
「Although the impact of these North American transportation costs had been eliminated from the third quarter onward,」
The company explained that the impact of higher airfreight and ocean-freight costs resulting from material-supply problems in North America had been eliminated from the third quarter onward. - FY2021AdvancedAnnual report
「Material price fluctuation risk: purchase and sales indices had been misaligned, but alignment has now progressed to 80%, with the remaining 20% also expected to be aligned.」
Regarding the response to material price fluctuations at the North American locations, the company explained that alignment between material purchase and sales indices had progressed to 80% and that the remaining portion was also on track for alignment. - FY2021-Q3AdvancedAnnual report
「Operating profit improved substantially in the third quarter, helped by the resolution of problems encountered during the launch of new products at the North American subsidiary, lower amortization expenses following impairment losses recognized in the previous fiscal year, cost reductions and market recovery from the second quarter onward.」
Third-quarter earnings improved substantially because of the resolution of new-product launch problems at the North American subsidiary, lower amortization expenses, cost reductions and market recovery. Although a cumulative loss remained, the effects of the measures became evident in concrete terms. - FY2021-Q2AdvancedAnnual report
「Operating loss was ¥1,706 million, compared with an operating loss of ¥996 million in the same period of the previous year, as the impact of lower domestic sales, which have been slow to recover, outweighed the resolution of problems encountered during the launch of new products at the North American subsidiary, lower amortization expenses following impairment losses recognized at overseas subsidiaries in the previous fiscal year, and the effects of cost-cutting measures.」
The resolution of problems encountered during the launch of new products at the North American subsidiary and the effects of cost-cutting measures were confirmed. However, the operating loss in the spring business widened year on year because of lower domestic sales. - FY2021-Q1AdvancedAnnual report
「At the North American locations, production of stabilizers, following coil springs, is being transferred from the U.S. plant to plants in Canada and Mexico as the company reorganizes its production system to match order volumes.」
The response to tariff, material-cost and production-disruption issues at the North American subsidiary is progressing toward reorganizing the production system to match order volumes and transferring stabilizer production from the U.S. to Canada and Mexico. - FY2020AdvancedAnnual report
「The company is working to mitigate the impact by reforming the procurement structures at each location.」
The response to tariff, material-cost and procurement issues at the North American subsidiary has expanded from individual measures to procurement-structure reforms at each overseas location. - FY2020-Q1RestatedAnnual report
「Operating loss was ¥330 million, a deterioration of ¥271 million year on year, as lower sales outweighed efforts to pass higher raw-material prices through to selling prices at the North American subsidiary, where some matters remained unresolved as of the first quarter.」
The company continues to pass higher raw-material prices through to selling prices at its North American subsidiary, but some matters remained unresolved as of the first quarter, resulting in an operating loss in the spring business. - FY2019-Q3First statedAnnual report
「In response to these factors, the company has pursued measures including applications for tariff exclusions, negotiations to pass costs through to product selling prices, expansion of material suppliers, and the dispatch of support teams to improve production. Although signs of improvement have emerged, the effects have so far been very limited.」
The company has initiated and continued specific measures to address additional tariffs at its North American subsidiary, higher material costs, constrained procurement and production disruptions, including tariff-exclusion applications, negotiations to pass costs through to selling prices, expansion of suppliers and dispatch of support teams.