Ongoing Cost Reduction and Expense Compression Activities

「Although revenue decreased due to lower production and sales volumes at automobile manufacturers, earnings increased due to production rationalization, efforts to optimize selling prices and other measures. Revenue was ¥7,889.8 million, a decrease of ¥271.6 million from the same period of the previous year, while segment profit was ¥219.4 million, an increase of ¥3.3 million from the same period of the previous year.」

「Under these business conditions, the Group's revenue and earnings for the cumulative second-quarter consolidated period increased year on year, as strong domestic sales and continued progress in cost reduction initiatives and passing through higher raw material and energy prices outweighed the impact of the slowdown in the Chinese economy.」

「Under these business conditions, the Group's revenue and earnings for the cumulative first-quarter consolidated period were affected by the delayed recovery of the Chinese economy. However, strong sales in Japan and ASEAN, along with progress in cost reduction initiatives and passing through higher raw material and energy prices, resulted in higher revenue and higher earnings year on year.」

「Revenue for the consolidated fiscal year increased year on year, partly due to the weaker yen. However, earnings decreased year on year because, despite progress in cost reduction initiatives and efforts to reflect higher selling prices globally, various expenses, including raw material, energy, transportation and labor costs, rose sharply, while the Chinese market remained sluggish.」

「Under these business conditions, the Group's performance in the first-quarter consolidated accounting period declined in both revenue and earnings year on year, as domestic sales remained sluggish and higher costs, including soaring raw material and energy prices, outweighed continued management efforts, including cost reduction.」

「In Japan, under challenging conditions including intermittent declarations of a state of emergency and a global semiconductor shortage, the company accurately addressed customer needs and implemented cost reduction and management efficiency measures, resulting in higher revenue and higher earnings year on year. Revenue was ¥4,606.3 million, an increase of ¥504.4 million year on year, and segment profit was ¥189.5 million, an increase of ¥139.9 million year on year.」

「Amid these challenging operating conditions, reduced production by automakers, higher raw material prices and transportation costs, and lower operating rates resulting from the spread of COVID-19 in Southeast Asia put pressure on profit. However, by thoroughly implementing measures to cover operations through global production optimization, as well as ongoing cost reduction activities and rationalization, the Group achieved higher revenue and profit year on year in the nine-month consolidated period ended the third quarter.」

「Under these business conditions, in the cumulative second-quarter consolidated period, the recovery trend in automobile unit sales and the continued implementation of management efforts, including cost reduction initiatives and rationalization, proved effective, significantly improving revenue and all profit items year on year and resulting in substantially higher revenue and higher earnings. Revenue ¥8,090.3 million (up 28.1% year on year)」

「Under these business conditions, in the first-quarter consolidated accounting period (April-June 2021), the recovery trend in automobile unit sales and the continued implementation of management efforts, including cost reduction initiatives and rationalization, proved effective, improving revenue and all profit items year on year and resulting in higher revenue and higher earnings.」

「Under these business conditions, in the third-quarter consolidated accounting period (October-December 2020), the recovery trend in automobile unit sales and the continued implementation of management efforts, including reductions in selling, general and administrative expenses, cost reduction initiatives and rationalization, proved effective, improving revenue and all profit items year on year.」

「The company secured a profit as a result of thoroughly and continuously implementing management efforts, including reductions in selling, general and administrative expenses, cost reduction initiatives and rationalization.」

「Although the company implemented thorough reductions in selling, general and administrative expenses, including lower executive compensation, as well as continued cost reduction initiatives, it was unable to offset the decline in operating capacity caused by lower sales and recorded an operating loss.」

「Although the company implemented continued cost reduction initiatives, expense cuts and other measures, operating income, ordinary income and quarterly net income attributable to owners of the parent all decreased due to lower sales, the costs of ramping up mass production of new technologies and new product development costs.」

「Although the company implemented continued cost reduction initiatives, expense cuts and other measures, operating income, ordinary income and quarterly net income attributable to owners of the parent all decreased due to lower sales, the costs of ramping up mass production of new technologies and new product development costs.」

「Although the company implemented continued cost reduction initiatives, expense cuts and other measures in addition to the production ramp-up effect from higher sales, operating income, ordinary income and net income attributable to owners of the parent all decreased due to higher raw material costs, the slowdown in the China business, the costs of ramping up mass production of new technologies and new product development costs.」

「Although the company implemented continued cost reduction initiatives, expense cuts and other measures in addition to the production ramp-up effect from higher sales, operating income, ordinary income and quarterly net income attributable to owners of the parent all decreased due to higher raw material costs, the costs of ramping up mass production of new technologies, the slowdown in the China business and new product development costs.」

「The company implemented the production ramp-up effect from higher sales, continued cost reduction initiatives, expense cuts and other measures, resulting in higher operating income and ordinary income.」

「Although the FALTEC Group corrected improper accounting treatments in prior years and took other measures, Group-wide profit increased due to the production ramp-up effect at the TPR Group excluding the FALTEC Group and continued cost reduction initiatives.」

「Under these conditions, the Group achieved higher revenue and higher earnings as a result of increased orders in Japan and overseas, together with continued cost reduction initiatives and expense cuts.」

「Under these conditions, the Group achieved higher revenue and higher earnings as a result of increased orders in Japan and overseas, together with continued cost reduction initiatives and expense cuts.」

「Against this backdrop, although our Group received more orders in overseas markets such as Asia and North America, sales rose slightly but remained almost flat due to the pronounced appreciation of the yen. Although we promoted ongoing cost reduction activities and expense cuts, both operating income and ordinary income declined.」

「Against this backdrop, although our Group received more orders in overseas markets such as Asia and North America, sales were almost flat due to the pronounced appreciation of the yen. Although we promoted ongoing cost reduction activities and expense cuts, operating income, ordinary income and net income attributable to owners of the parent all declined.」

「Although sales were broadly flat due to the rapid appreciation of the yen and we continued cost-reduction initiatives and expense controls, operating income, ordinary income and net income attributable to owners of the parent all declined.」