Development and Improvement of Products for Growth Sectors and Market Launch

「Gross profit increased 11.2% year on year to ¥1,020 million, due in part to progress in the aforementioned after-sales service business and successful cost-reduction initiatives.」

「During the fiscal year, we delivered the hydrogen compressors and dehumidifiers for which we are responsible to Hokuto, Yamanashi Prefecture, where the demonstration is being conducted, and carried out on-site installation work and operational testing. We will continue working toward completing the demonstration in December 2026. We also shipped the first units of the new 20MPaG-class series of compressors for hydrogen filling: 1 VD4-55 unit and 3 VD4-150 units.」

「Regarding the development of hydrogen compressors and other equipment for large-scale power-to-gas (P2G) systems, construction at the demonstration site in Hokuto, Yamanashi Prefecture, began in earnest during the fiscal year, and we also proceeded with the manufacture of the hydrogen compressors and other equipment to be used in the demonstration. We will continue preparations toward the launch of the on-site demonstration test during fiscal 2025.」

「Under these circumstances, during the interim accounting period, our net sales increased 15.6% year on year to ¥3,030 million, due mainly to strong sales of hydrogen compressors for filling equipment for heavy-duty fuel cell vehicles (HDVs).」

「In March 2024, we completed performance and durability testing and functional verification of the new compressor model VD4-250GH-OL (discharge pressure: 45MPaG; discharge flow rate: 600Nm3/h) using the demonstration equipment installed at the MES Tamano Plant.」

「Under these circumstances, during the cumulative nine-month period, our net sales increased 35.3% year on year to ¥5,064 million, due mainly to strong sales of compressors for large-scale plants and carbon-neutrality-related products.」

「We received orders for 5 of the 7 sites approved for funding under the Fiscal 2022 Subsidy Program for the Installation of Hydrogen Supply Facilities for Fuel Cell Vehicles. In addition, we received an order for a hydrogen compressor for the ammonia synthesis equipment to be installed in INPEX's blue hydrogen and ammonia production and utilization demonstration project in Kashiwazaki, Niigata Prefecture, scheduled to begin in March 2023.」

「Under these circumstances, consolidated net sales for the cumulative second quarter increased 15.9% year on year to ¥2,483 million, due mainly to sales of hydrogen compressors for filling equipment for heavy-duty fuel-cell vehicles (HDVs), including large trucks and buses, and compressors for PET bottle molding.」

「Of the 6 projects approved for grants under the FY2021 Subsidy Program for the Installation of Hydrogen Supply Facilities for Fuel-Cell Vehicles, we received orders for 4, plus 1 project using a Tokyo Metropolitan Government subsidy, for a total of 5 projects. One of these projects is scheduled to be equipped with a new compressor body.」

「Under these circumstances, consolidated net sales for the cumulative third quarter decreased 15.1% year on year to ¥3,384 million, due mainly to delays in overseas chemical plant projects and hydrogen station projects for fuel-cell vehicles (FCVs).」

「Under these circumstances, consolidated net sales for the cumulative second quarter increased 6.8% year on year to ¥2,142 million, due mainly to higher sales of compressors for hydrogen stations for fuel-cell vehicles (FCVs) and maintenance parts for overseas markets.」

「The hydrogen compressor with an integrated booster system for hydrogen stations, already launched and marketed under the product name HyKom340, conforms to the standard specifications for stationary hydrogen stations (discharge pressure: 82 MPa; flow rate: 340 N㎥/h) and incorporates numerous advanced technologies. During the current fiscal year, the company delivered it to 10 hydrogen stations.」

「The company received favorable evaluations from the industry and delivered products to 8 hydrogen stations during the current fiscal year. In particular, the package unit combining a chiller, which cools hydrogen gas before filling fuel-cell vehicles, with a compressor met market needs and was delivered to 7 stations. In addition, the company delivered 3 HyKom340-based models for shipping fuel-cell vehicles to an automaker and 2 models for a discharge pressure of 40 MPa to hydrogen bus stations.」

「Under these circumstances, consolidated net sales for the cumulative third quarter increased 11.3% year on year to ¥4,115 million, due mainly to an increase in large-scale hydrogen-related and PET bottle molding projects.」

「Under these circumstances, consolidated net sales for the cumulative second quarter increased 11.1% year on year to ¥2,391 million, due to large-scale sales from oil refining and petrochemical projects in overseas markets, as well as an increase in large-scale hydrogen-related and PET bottle molding projects, among other factors.」

「Selling, general and administrative expenses increased 11.4% year on year to ¥286 million, mainly due to higher research and development expenses resulting from the promotion of new-product development, including development of an electrochemical hydrogen pump,」

「During the current fiscal year, we comprehensively reviewed the screw-and-booster system, as in the previous fiscal year, achieving energy savings, space savings, and lower running costs compared with conventional machines. We also developed a series ranging from small- to large-capacity models, enabling customers to select the optimal model as needed. As of the end of the current fiscal year, 10 sets had been ordered for this series, and we plan to expand sales further. In fiscal 2019, we plan to develop a model with even greater energy efficiency in response to further market needs, add it to the series, and launch it on the market.」

「Improvement of the functions of compressors for hydrogen stations for FCVs, which the company positions as a medium- to long-term growth product; announcement of a new compressor for PET bottle molding pursuing high efficiency, energy savings, and reduced maintenance」

「During the current fiscal year, using the technology of the hydrogen compressor with an integrated booster system for hydrogen stations, which has already been launched and marketed under the product name HyKom340, we commercialized and sold models for fuel-cell (FC) forklifts (discharge pressure: 40–45 MPa; filling pressure: 35–40 MPa) and small-capacity models for hydrogen produced using renewable energy, such as wind power generation (flow rate: 50 Nm3/h).」

「In addition to the decline in gross profit, selling, general and administrative expenses increased by ¥44 million year on year, mainly because costs for preparing quotations increased to strengthen sales promotion activities, among other factors,」

「We will strengthen development and sales activities to provide functional products that meet market needs. We will also improve the quality of differentiated products based on environmentally responsive technologies and expand their sales.」