Transformation of the steel cord business
First written in FY2017-Q1. 9 of 28 entries say "Restated". Latest entry: 2026-11-12.
No other company in this theme has enough history to compare yet.
- FY2026WorsenedAnnual report
「Due to the impact of declining sales prices for tire steel cord, segment net sales were ¥4,750 million, down 13.9% from the previous fiscal year. On the earnings front, the company focused on reducing costs through operational improvements but was unable to offset the impact of lower revenue, resulting in an operating loss of ¥606 million, compared with operating income of ¥1 million in the previous fiscal year.」
In addition to lower revenue resulting from declining sales prices, the impact could not be offset despite advancing operational improvements and cost reductions, and results deteriorated from operating income to an operating loss of ¥606 million. - FY2026-H1WorsenedAnnual report
「Due to lower sales volume of tire steel cord following the entry of certain overseas products, segment net sales were ¥2,403 million, down 17.5% year on year. On the earnings front, although efforts were made to reduce costs through operational improvements, the impact of lower revenue was significant, resulting in an operating loss of ¥301 million, compared with an operating loss of ¥39 million in the same period of the previous year.」
Sales volume declined following the entry of certain overseas products, and although cost reductions through operational improvements were advanced, the operating loss in steel cord-related operations widened from ¥39 million to ¥301 million. - FY2025AdvancedAnnual report
「As a result of conducting business activities with priority given to improving profitability, sales volume of tire steel cord declined, and segment net sales decreased to ¥5,513 million, down 26.3% from the previous fiscal year. However, operating income improved significantly to ¥1 million, compared with an operating loss of ¥242 million in the previous fiscal year, due to the impact of cost reductions, including lower depreciation expense.」
Although sales volume and net sales declined, steel cord-related operations improved from an operating loss in the previous year to operating income of ¥1 million through cost reductions, including lower depreciation expense. - FY2025-H1AdvancedAnnual report
「Sales declined due to the sluggish market for tire steel cord, bringing segment sales down 29.4% year on year to ¥2,912 million. On the profit side, although lower revenue had a negative impact, efforts to reduce costs through operational improvements substantially narrowed the operating loss to ¥39 million, compared with an operating loss of ¥233 million in the same period of the previous year.」
Although sluggish market conditions reduced revenue, cost reductions through operational improvements substantially narrowed the operating loss from ¥233 million to ¥39 million. - FY2024AdvancedAnnual report
「Despite lower sales volume, efforts to improve margins through price pass-through, a more favourable sales mix and cost reductions such as reviewing the operating structure to match production volumes resulted in operating profit in the fourth quarter. For the full year, the operating loss narrowed substantially to ¥242 million, compared with an operating loss of ¥849 million in the previous consolidated fiscal year.」
Price pass-through, an improved sales mix and a review of the operating structure brought the fourth quarter operating result into profit and narrowed the full-year operating loss from ¥849 million to ¥242 million. - FY2024-Q3AdvancedAnnual report
「Sales of tire steel cord declined due partly to sluggish tire sales in North America since the end of the year before last, bringing sales in this business down 15.8% year on year to ¥5,907 million. On the profit side, despite lower sales volume, efforts to improve margins through price pass-through implemented in response to higher electricity and materials costs, a more favourable sales mix and cost reductions such as reviewing the operating structure to match production volumes reduced the operating loss substantially to ¥296 million, compared with an operating loss of ¥795 million in the same period of the previous year.」
In the steel cord-related business, price pass-through, a review of the operating structure to match production volumes and cost reductions narrowed the operating loss from ¥795 million to ¥296 million. - FY2024-Q2AdvancedAnnual report
「Although sales declined, efforts to improve margins through price pass-through implemented in response to higher electricity and materials costs, together with cost reductions, halved the operating loss to ¥233 million, compared with an operating loss of ¥470 million in the same period of the previous year.」
In the steel cord-related business, margin improvements through price pass-through and cost reductions halved the operating loss from ¥470 million in the same period of the previous year to ¥233 million. - FY2024-Q1Narrower loss, but energy costs remain unrecoveredAnnual report
「Sales of tire steel cord declined as the market remained under adjustment from the end of last year due partly to the economic slowdown in North America, bringing sales in this business down 5.6% year on year to ¥2,289 million. On the profit side, although we worked to reduce costs through operational improvements, we were unable to fully absorb higher energy costs due to persistently high electricity charges and other factors, resulting in an operating loss of ¥137 million, compared with an operating loss of ¥178 million in the same period of the previous year.」
Cost reductions through operational improvements narrowed the operating loss from ¥178 million in the same period of the previous year to ¥137 million. However, persistently high electricity charges and other costs prevented full recovery of energy costs, and the business remained in the red. - FY2023WorsenedAnnual report
「In addition to energy and materials costs soaring above expectations and remaining high, orders for tire steel cord continued to decline from the end of last year as the market remained under adjustment due partly to an economic slowdown in North America. As a result, the operating loss was ¥849 million, compared with a loss of ¥827 million in the previous consolidated fiscal year.」
Although steel cord-related revenue increased, higher energy and materials costs and lower orders for tire steel cord due to the North American economic slowdown widened the operating loss from ¥827 million to ¥849 million. - FY2023-Q3WorsenedAnnual report
「Mainly due to product price revisions implemented since the previous fiscal year and foreign exchange effects on exported products, sales in this business increased to ¥7,018 million, up 9.2% year on year. However, in addition to soaring and persistently high energy and materials costs, production adjustments in response to lower orders resulting from inventory adjustments by customers in Japan and overseas resulted in an operating loss of ¥795 million, compared with an operating loss of ¥700 million in the same period of the previous year.」
Although product price revisions and other measures increased revenue, persistently high energy and materials prices, lower orders due to customer inventory adjustments and production adjustments widened the operating loss to ¥795 million. - FY2022WorsenedAnnual report
「In the steel cord business, where operational improvements are being pursued through structural reforms, operating costs such as energy, materials and transportation remained high. In addition, the instability in the Russia-Ukraine situation that emerged during the fourth quarter consolidated accounting period was expected to be prolonged, resulting in the recognition of impairment losses on fixed assets in the business and the recording of extraordinary losses,」
Although structural reforms are under way, the steel cord business recorded impairment losses on fixed assets against a backdrop of persistently high energy, materials and transportation costs and the Russia-Ukraine situation. - FY2021AdvancedAnnual report
「Our withdrawal from the unprofitable China business has been completed, and profitability at our domestic plants is improving, partly due to the effects of rationalisation investments.」
The company states that its withdrawal from the China business has been completed and that profitability is improving at its domestic plants due to the effects of rationalisation investments. - FY2020ReframedAnnual report
「In the tire cord industry, where competition in global markets is intensifying, we had sought to differentiate ourselves through our product mix and quality levels. However, as the market for ultra-fine wire has contracted, cost reductions have become essential, and we are shifting our policy toward a smart factory through alliances with other companies.」
The company is shifting from differentiation based on its product mix and quality to a smart factory policy centred on cost reductions in response to the contraction of the ultra-fine wire market and alliances with other companies. - FY2020-Q2AdvancedAnnual report
「We agreed to form a partnership in the steel cord business with Hongduk Industrial Co., Ltd., part of the Koryo Steel Group, and to make Toko Steel Cord Co., Ltd., our domestic steel cord production subsidiary, a joint venture between the two parties, with the aim of jointly pursuing fundamental profitability improvements in the steel cord business in Japan. In addition, we decided to conduct a third-party allotment capital increase to the two parties for investment in renewing plant equipment to achieve thorough operational rationalisation at the joint venture.」
The company describes concrete measures to transform the steel cord business, including a partnership with the Koryo Steel Group, conversion into a joint venture and investment in renewed plant equipment for operational rationalisation. - FY2020-Q1RestatedAnnual report
「③ Transformation of the steel cord business」
The company reiterates transformation of the steel cord business as an existing growth strategy initiative. - FY2019-Q3RestatedAnnual report
「Specifically, the Company has been pursuing ① the CFCC business in the North American and Indonesian markets, ② proactive development of new markets by capturing infrastructure development demand overseas, ③ restructuring the Steel Cord business, ④ reliably capturing domestic infrastructure demand, and ⑤ strengthening the financial foundation supporting the growth strategy, among other initiatives.」
The company reiterates transformation of the steel cord business as an existing growth strategy initiative. - FY2019-Q2RestatedAnnual report
「Specifically, the Company has been pursuing ① the CFCC business in the North American and Indonesian markets, ② proactive development of new markets by capturing infrastructure development demand overseas, ③ restructuring the Steel Cord business, ④ reliably capturing domestic infrastructure demand, and ⑤ strengthening the financial foundation supporting the growth strategy, among other initiatives.」
The company reiterates transformation of the steel cord business as an existing growth strategy initiative. - FY2018RestatedAnnual report
「We will strengthen the provision of high-value-added products to the tire industry, where environmental performance is in high demand, and other fields requiring high-strength, ultra-fine wire, while expanding our product portfolio and improving margins.」
The company continues to describe its transformation policy based on high-strength, ultra-fine wire, high-value-added products and expansion of the product portfolio. - FY2018-Q3RestatedAnnual report
「Transformation of the steel cord business」
The company continues to identify transformation of the steel cord business as a specific initiative under its 5-year growth strategy. - FY2018-Q2RestatedAnnual report
「The Company designated the five-year period from fiscal 2015 as the period for "further strengthening the business foundation" and "launching and executing the growth strategy" and has been implementing measures to sustain growth and social contribution into the future. Specifically, the Company has been pursuing ① the CFCC business in the North American and Indonesian markets, ② proactive development of new markets by capturing infrastructure development demand overseas, ③ restructuring the Steel Cord business, ④ reliably capturing domestic infrastructure demand, and ⑤ strengthening the financial foundation supporting the growth strategy, among other initiatives.」
The company continues to identify transformation of the steel cord business as a specific initiative under its 5-year growth strategy. - FY2018-Q1RestatedAnnual report
「The Company designated the five-year period from fiscal 2015 as the period for "further strengthening the business foundation" and "launching and executing the growth strategy" and has been implementing measures to sustain growth and social contribution into the future. Specifically, the Company has been pursuing ① the CFCC business in the North American and Indonesian markets, ② proactive development of new markets by capturing infrastructure development demand overseas, ③ restructuring the Steel Cord business, ④ reliably capturing domestic infrastructure demand, and ⑤ strengthening the financial foundation supporting the growth strategy, among other initiatives.」
The company continues to identify transformation of the steel cord business as a specific initiative under its 5-year growth strategy. - FY2017RestatedAnnual report
「We will strengthen the provision of high-value-added products to the tire industry, where environmental performance is in high demand, and other fields requiring high-strength, ultra-fine wire, while expanding our product portfolio and improving margins.」
The company reiterates specific measures for transforming the steel cord business, including high-strength, ultra-fine wire, high-value-added products and expansion of the product portfolio. - FY2017-Q2RestatedAnnual report
「Transformation of the steel cord business」
The company continues to list this as an initiative under its growth strategy. - FY2017-Q1First statedAnnual report
「Transformation of the steel cord business」
The company explicitly identifies this as a specific initiative under its growth strategy.