Impact on bearing equipment profits from delivery delays for mass-produced products at U.S. sites and declining sales of vehicle models using our products in China
First written in FY2018-Q1. 9 of 18 entries say "Restated". Latest entry: FY2024-Q2.
Oiles moved to the "Worse" side of this theme in 2023, 4 years after the typical company in this theme (2019).
The whole theme swung hardest in 2019: 6 of 10 companies on the "Worse" side.
1 other company's latest entry also says "Materialised".
- FY2024-Q2MaterialisedAnnual report
「Although sales to China remained sluggish due to reduced automobile production there, production in Japan, North America and Europe remained firm, resulting in revenue and profit above the same period of the previous year.」
Reduced automobile production in China actually emerged as a factor behind sluggish sales to China. Meanwhile, production in Japan, North America and Europe remained firm. - FY2024-Q1MaterialisedAnnual report
「However, segment profit fell below the same period of the previous year due to the suspension of automobile production in China following the renewed spread of infections after the shift away from the zero-COVID policy, as well as the delayed recovery that followed amid the economic slowdown.」
Production stoppages and delayed recovery in China's automotive industry due to a resurgence of infections and an economic slowdown in China actually affected bearing equipment profit. - FY2023MaterialisedAnnual report
「Automotive products were affected by the lockdown in Shanghai, China, during the first half and by reduced automobile production in Europe, the United States and Japan due to semiconductor shortages. However, sales exceeded the year-earlier period as demand in India and ASEAN recovered and the weaker yen had a positive impact.」
The lockdown in Shanghai, China, and reduced automobile production in Europe, the United States and Japan due to semiconductor shortages actually affected the full-year automotive business. - FY2023-Q3MaterialisedAnnual report
「Automotive products saw sales depressed by the lockdown in Shanghai, China, during the first half and reduced automobile production in Europe and the United States. However, sales exceeded the same period of the previous year due to recovering demand in India and the ASEAN region, as well as the impact of the weaker yen.」
Factors previously anticipated in the Chinese, European and U.S. automotive markets actually weighed on sales through the lockdown in Shanghai, China, and reduced automobile production in Europe and the United States. - FY2022-Q2RestatedAnnual report
「No new business or other risks arose during the six-month cumulative period under review. There were also no material changes to the business and other risks described in the annual securities report for the previous consolidated fiscal year.」
The company stated that there had been no material changes in the risks related to delivery delays and quality improvement at the U.S. facility or lower sales of vehicle models using the products in China. - FY2022-Q1RestatedAnnual report
「No new business or other risks arose during the cumulative first quarter of the current consolidated fiscal year. There were also no significant changes to the business or other risks described in the securities report for the previous consolidated fiscal year.」
The company stated that there had been no material changes in the risks related to delivery delays and quality improvement at the U.S. facility or lower sales of vehicle models using the products in China. - FY2021-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter, and there were no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company stated that there had been no material changes in the risks related to delivery delays and quality improvement at the U.S. facility or lower sales of vehicle models using the products in China. - FY2021-Q2RestatedAnnual report
「No new business or other risks arose during the six-month cumulative period under review. There were also no material changes to the business and other risks described in the annual securities report for the previous consolidated fiscal year.」
The company stated that there had been no material changes in the risks related to delivery delays and quality improvement at the U.S. facility or lower sales of vehicle models using the products in China. - FY2021-Q1RestatedAnnual report
「No new business or other risks arose during the cumulative first quarter of the current consolidated fiscal year. There were also no significant changes to the business or other risks described in the securities report for the previous consolidated fiscal year.」
The company stated that there had been no material changes in the risks related to delivery delays and quality improvement at the U.S. facility or lower sales of vehicle models using the products in China. - FY2020-Q3RestatedAnnual report
「There have been no material changes in the business and other risks described in the securities report for the previous consolidated fiscal year.」
The company stated that there had been no material changes in the risks related to delivery delays and quality improvement at the U.S. facility or lower sales of vehicle models using the products in China. - FY2020-Q1RestatedAnnual report
「There have been no material changes in the business and other risks described in the securities report for the previous consolidated fiscal year.」
The company stated that there had been no material changes in the risks related to delivery delays and quality improvement at the U.S. facility or lower sales of vehicle models using the products in China. - FY2019-Q3RestatedAnnual report
「There have been no material changes in the business and other risks described in the securities report for the previous consolidated fiscal year.」
The company stated that there had been no material changes in the risks related to delivery delays and quality improvement at the U.S. facility or lower sales of vehicle models using the products in China. - FY2019-Q2MitigatedAnnual report
「Transactions with automakers in Asia, particularly China, continued to remain firm. As a result, bearing equipment sales were ¥22,870 million, up 3.8% year on year, and segment profit was ¥2,315 million, up 9.4%.」
There was no direct mention of delivery delays or quality improvement costs at the U.S. facility or lower sales of vehicle models using the products in China. The disclosure described firm transactions in Asia, particularly China, and bearing equipment sales and profit exceeding the year-earlier period. - FY2019-Q1MitigatedAnnual report
「Transactions involving automotive products remained firm, particularly in Europe and China, and both sales and profit for bearing equipment overall exceeded the year-earlier period.」
There was no direct mention of the previously reported delivery delays and quality improvement costs at the U.S. facility or lower sales of vehicle models using the products in China. The disclosure described firm transactions in Europe and China and bearing equipment sales and profit exceeding the year-earlier period. It did not explicitly state that the individual issues had been resolved. - FY2018MaterialisedAnnual report
「Sales of products for general industrial machinery, including injection molding machines, FA equipment and plant facilities, increased. Transactions with automakers in Europe, India and ASEAN for automotive products also remained firm, resulting in higher overall bearing equipment sales. However, profit fell below the previous year because raw material prices, particularly for copper alloys, surged and costs were recorded for structural reform aimed at improving quality at the U.S. facility.」
Structural reform costs aimed at improving quality at the U.S. facility continued to be incurred, resulting in a 1.3% year-on-year decline in bearing equipment segment profit. - FY2018-Q3MaterialisedAnnual report
「For products for general industrial machinery, orders for industrial vehicle products remained firm, while sales of products for injection molding machines and plant equipment increased. Transactions with automakers in Europe, India and ASEAN also remained firm for automotive products, resulting in higher revenue for the Bearing Equipment business overall. However, profit fell below the previous year due to costs incurred for structural reforms aimed at improving quality at the U.S. site and surging raw material prices during the period.」
The issue at the U.S. facility became apparent not as previously described, as delays in deliveries of mass-produced products, but as structural reform costs incurred to improve quality, and bearing equipment profit fell below the previous year. - FY2018-Q2RestatedAnnual report
「Sales of automotive products remained firm through continued business with automakers in Europe, India, and ASEAN, resulting in higher revenue for the bearing equipment segment as a whole. However, expenses increased due to the launch of a new mass-production line in the United States, where investment had been made, delays in deliveries, and rising raw material prices during the period, among other factors, and profit fell below the same period of the previous year.」
Delays continued in the start-up and delivery of a new mass-production line invested in the United States, while higher expenses from rising raw material prices also contributed, resulting in a 15.2% year-on-year decline in bearing equipment segment profit. - FY2018-Q1MaterialisedAnnual report
「Although transactions with automakers in Europe, India and ASEAN for automotive products remained firm, overall bearing equipment profit fell below the year-earlier period due to delays in the delivery schedule for new mass-produced products at the U.S. facility and lower sales of vehicle models using the company's products at the China facility, among other factors.」
Delays in deliveries of new mass-produced products at the U.S. facility and lower sales of vehicle models using the products at the China facility occurred, resulting in overall bearing equipment profit falling below the year-earlier period.