Declining Orders for Tire Steel Cord Due to a Slowdown in the North American Economy
First written in FY2023. 5 of 7 entries say "Worsened", first in FY2024-Q2. Latest entry: FY2025.
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- FY2025WorsenedAnnual 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.」
Sales volumes and revenue for tire steel cord declined as operations prioritized improving profitability, while the impact of the weak market following the North American economic slowdown and other factors persisted throughout the fiscal year. However, the loss was eliminated through cost reductions. - FY2025-H1WorsenedAnnual report
「Due to the weak market for tire steel cord and other factors, sales declined, and segment revenue decreased to ¥2,912 million, down 29.4% year on year.」
The weak market for tire steel cord continued, and segment revenue fell 29.4% year on year. - FY2024WorsenedAnnual report
「Sales volume of tire steel cord declined due in part to persistently weak tire sales in North America since the end of the year before last. As a result, segment net sales declined to ¥7,479 million, down 19.9% from the previous consolidated fiscal year.」
The ongoing weakness in North American tire sales led to a 19.9% full-year decline in revenue as a result of lower sales volumes of tire steel cord. - FY2024-Q3WorsenedAnnual report
「Since the end of the year before last, sales volumes of tire steel cord have declined due in part to sluggish tire sales in North America. As a result, sales in this business decreased to ¥5,907 million, down 15.8% year on year.」
Tire sales in North America remained weak, and sales volumes of tire steel cord fell 15.8% year on year, while revenue was ¥5,907 million. - FY2024-Q2WorsenedAnnual report
「Since the end of last year, sales volumes of tire steel cord have declined due in part to sluggish tire sales in North America. As a result, sales in this business decreased to ¥4,127 million, down 12.2% year on year.」
The impact of sluggish tire sales in North America continued, and sales volumes of tire steel cord declined. Steel cord-related revenue fell 12.2% year on year. - FY2024-Q1RestatedAnnual report
「Since the end of last year, sales volumes of tire steel cord, which have remained under adjustment due to the impact of the North American economic slowdown and other factors, have declined. As a result, sales in this business decreased to ¥2,289 million, down 5.6% year on year.」
The decline in sales volumes of tire steel cord due to the North American economic slowdown and other factors continued during the quarter, becoming a factor behind the decline in steel cord-related revenue. - FY2023MaterialisedAnnual report
「Since the end of last year, orders for tire steel cord have also declined as adjustments continued due to the economic slowdown in North America, among other factors,」
The decline in orders for tire steel cord due to the North American economic slowdown and other factors materialized, becoming a factor behind the operating loss related to steel cord.