Dependence on the apparel industry and demand for chain-stitch sewing machines

「Although growth stagnated in the major markets of China and Bangladesh, solid sales in India supported the business, and some markets, including Central and South America and Egypt, expanded. Revenue was ¥13,830 million, down 0.2% year on year, and segment profit was ¥1,186 million, down 16.1%.」

「バングラデシュでの総選挙による金融引き締め、インドの米国関税の影響により、 設備投資に慎重な姿勢が継続しており、市況の先行きは不透明な状況。」

「In the major markets of China and South Asia, including Bangladesh and India, some companies adopted a cautious stance toward capital investment while assessing fluid US tariff measures.」

「In addition to the continued recovery trend in capital investment demand, particularly in South Asia, including Bangladesh and India, the business steadily captured domestic demand even in China, where the economy was slowing. Revenue was ¥13,852 million, up 44.0% year on year, and segment profit was ¥1,414 million, compared with a segment loss of ¥69 million in the previous year.」

「In the Apparel Machinery Business, formerly the Industrial Sewing Machine Business, caution toward capital investment continued in the Americas as the region awaited the outcome of the presidential election and in Europe amid unstable political and economic conditions. Meanwhile, demand for industrial sewing machines showed a gradual recovery in China and other parts of Asia. In addition to the gradual recovery in capital investment demand, particularly in South Asia, the business steadily captured domestic demand even in China, where economic conditions were weak. As a result, revenue was ¥6,436 million, up 24.1% year on year, and segment profit was ¥718 million, up 339.2%.」

「Capital investment in the sewing industry remained cautious overall. Revenue was ¥9,620 million, down 49.2% year on year, and the segment posted a loss of ¥69 million, compared with segment profit of ¥3,268 million in the previous year.」

「Capital investment in the sewing industry remained cautious. Revenue was ¥7,267 million, down 51.7% year on year, and segment profit was ¥131 million, down 95.5%.」

「Caution toward capital investment in the sewing industry continued. Revenue was ¥5,185 million, down 50.4% year on year, and segment profit was ¥163 million, down 93.0%.」

「In the industrial sewing machine business, the core business of our corporate group, sewing companies became more cautious about capital investment as they sought to assess apparel demand.」

「In the industrial sewing machine business, the core business of our corporate group, strong apparel demand normalised as inflation stemming from the situation in Russia and Ukraine, among other factors, progressed, while capital investment in the sewing industry also returned to a more subdued level.」

「Inflation stemming from the situation in Russia and Ukraine, among other factors, caused global apparel demand to stagnate, while some calming was seen in capital investment demand in the sewing industry, which had been strong since the pandemic began.」

「In the industrial sewing machine business, the core business of our corporate group, performance remained firm overall, supported by strong global apparel demand, despite the impact of China's zero-COVID policy and power shortages.」

「As the recovery in global apparel demand stimulated capital investment in the sewing industry and the industrial sewing machine business group met supply needs through the combined strength of the group, revenue was ¥16,482 million, up 71.3% year on year, and segment profit was ¥2,723 million, up 94.7%.」

「For industrial sewing machines, capital investment by garment factories became more active as global apparel demand recovered, resulting in net sales of ¥11,831 million, up 82.7% year on year, and segment profit of ¥1,942 million, up 116.1%.」

「For industrial sewing machines, capital investment by garment factories became more active as global apparel demand recovered, resulting in net sales of ¥7,688 million, up 85.7% year on year, and segment profit of ¥1,135 million, up 176.5%.」

「In the industrial sewing machine industry, the core business of our corporate group, demand for capital investment has been increasing, led by China, as well as in North and Central America and parts of Southeast Asia.」

「Although signs of a recovery in capital investment demand began to emerge, the recovery did not reach pre-pandemic levels. Revenue was ¥9,622 million, down 21.5% year on year, and segment profit was ¥1,399 million, down 13.8%.」

「China, where the spread of COVID-19 had begun to subside, resumed business activity first, followed by efforts to restore economic activity in Southeast Asia, Europe and the United States. As a result, demand for capital investment began to recover, albeit weakly, but a full recovery did not materialize, resulting in net sales of ¥6,475 million, down 32.0% year on year, and segment profit of ¥898 million, down 20.4%.」

「For industrial sewing machines, demand for masks and PPE products expanded amid the COVID-19 pandemic, and supply shortages temporarily led more factories to switch production from apparel products to these products. The company responded to this demand, but a full recovery in capital investment did not materialize, resulting in net sales of ¥4,141 million, down 37.4% year on year, and segment profit of ¥410 million, down 56.1%.」

「In the Industrial Sewing Machine business, capital investment remained cautious as order volumes continued to be reduced owing to the prolonged US-China confrontation, apparel companies' production at appropriate levels and revisions to inventory plans in response to growing consumer awareness of environmental issues. Sales remained sluggish amid the stagnation of economic activity accompanying the spread of COVID-19 infections and other factors.」

「Our corporate group also received requests to cancel orders or postpone delivery dates, leaving the Company unable to carry out sales or related services.」

「In the Industrial Sewing Machine business, capital investment remained cautious owing to the impact of US-China trade friction and political instability in Latin America, among other factors, and sales remained sluggish.」

「In the Industrial Sewing Machine business, capital investment remained cautious owing to the economic impact of the prolonged US-China confrontation and other factors, and sales remained sluggish.」

「In the Industrial Sewing Machine business, sales remained sluggish as capital investment stayed cautious amid the economic impact of the prolonged US-China confrontation and other factors. Meanwhile, in die-cast components, mainly automotive components, the effects of efforts to develop new customers began to emerge.」

「Our products specialize in chain-stitch sewing machines, a type of industrial sewing machine, and conditions in the apparel industry, our customers' industry, may affect the financial position and operating results of our corporate group.」

「Overall, demand for our industrial sewing machines is showing signs of recovery.」

「Overall, demand for our industrial sewing machines is showing signs of recovery.」

「Demand for die-cast components, mainly automotive components, remained weak owing to the impact of inventory adjustments and other factors at major customers.」

「In the Industrial Sewing Machine business, we worked to develop sales strategies in response to changes in garment-producing regions, but sales declined to ¥14,206 million, down 12.6% year on year, owing to the delayed recovery in demand in the Asian and American markets. Despite efforts to reduce costs, operating profit declined to ¥3,126 million, down 10.5% year on year.」

「In industrial sewing machines, the movement of garment production bases from China, a major textile industry hub, mainly to other parts of Asia is still continuing, but demand in Asian and US markets remained sluggish compared with the same quarter of the previous year.」

「For industrial sewing machines, the company worked to develop sales strategies in response to the shifting locations of garment production and reduce costs. However, net sales were ¥6,963 million, down 21.2% year on year, and operating profit was ¥1,705 million, down 15.2%.」

「In industrial sewing machines, the ongoing movement of garment production bases from China, a major textile industry hub, mainly to other parts of Asia continued, but demand in Asian and US markets remained sluggish compared with the same quarter of the previous year.」

「Our products specialize in chain-stitch sewing machines, a type of industrial sewing machine, and conditions in the apparel industry, our customers' industry, may affect the financial position and operating results of our corporate group.」