Year-on-year declines in sales and profit for the six months ended the second quarter

「For the interim consolidated period, revenue was ¥124.832 billion, up 7.7% year on year. Demand declined in the automotive sectors in Japan and China, but demand recovered in the construction machinery sectors in Europe, the Americas and China and in the ASEAN aftermarket sector, while demand increased in the Americas' industrial machinery sector. The company reduced fixed costs through structural reform, passed higher raw material costs and other increases through to selling prices, automated and streamlined production lines, and reduced procurement costs. Operating profit was ¥6.769 billion, up 60.7%, ordinary profit was ¥6.130 billion, up 107.3%, and interim net profit attributable to owners of the parent was ¥3.395 billion, up 81.0%.」

「As a result, revenue for the interim consolidated period was ¥115.887 billion, down 2.4% year on year. Domestic revenue was ¥57.225 billion, down 1.9%, and overseas revenue was ¥58.661 billion, down 2.9%. Demand in China's industrial machinery sector partially recovered, but demand remained weak in the construction machinery sectors in Japan and Europe, and inventory adjustments in the ASEAN aftermarket sector had an impact. On the profit front, operating rates deteriorated for hydraulic equipment and bearings, but the company reduced fixed costs through structural reform, passed higher raw material costs through to selling prices, automated and streamlined production lines, and reduced procurement costs. Operating profit was ¥4.213 billion, up 79.8%, and ordinary profit was ¥2.957 billion, up 103.7%.」

「For the second-quarter cumulative consolidated period, revenue was ¥118.712 billion, down 12.2% year on year. Automotive production recovered mainly in Japan, and demand expanded in the industrial machinery and aftermarket areas in the Americas, but demand declined in the construction machinery and industrial machinery areas in China and Europe, among others, and some Japanese automakers reduced production. Although the company passed higher raw material costs through to selling prices, automated and streamlined production lines, reduced procurement costs and benefited from a weaker yen, the continued high cost of raw materials from the previous period and significantly lower operating rates for robots and hydraulic equipment had a major impact. Operating profit was ¥2.342 billion, down 69.2%, ordinary profit was ¥1.452 billion, down 79.4%, and quarterly net profit attributable to owners of the parent was ¥779 million, down 83.5%.」

「For the second-quarter cumulative consolidated period, revenue was ¥135.264 billion, up 10.8% year on year. This reflected the impact of production adjustments in some automotive and construction machinery areas, but also firm demand in the industrial machinery and aftermarket areas and a recovery in capital equipment demand, particularly expanded robot sales centered on North America and China and the recovery and expansion of machine tools and bearings.」

「For the second-quarter cumulative consolidated period, consolidated revenue was ¥122.092 billion, up 9.0% year on year. Of this, domestic revenue was ¥60.585 billion, up 5.6%, and overseas revenue was ¥61.507 billion, up 12.5%. On the profit front, in addition to improved operating rates from higher sales and production, the company passed higher raw material costs through to selling prices, improved productivity through automation and streamlining of production lines, and worked to reduce procurement costs. As the yen remained weak, operating profit was ¥8.100 billion, up 25.9%, ordinary profit was ¥8.769 billion, up 34.8%, and quarterly net profit attributable to owners of the parent was ¥5.830 billion, up 30.3%.」

「As a result, consolidated revenue for the second-quarter cumulative period was ¥124.638 billion, up 8.9% year on year. Of this, domestic revenue was ¥63.525 billion, up 11.2%, and overseas revenue was ¥61.112 billion, up 6.5%. Operating profit was ¥8.115 billion, up 5.1%, ordinary profit was ¥7.072 billion, up 4.1%, and quarterly net profit attributable to owners of the parent was ¥4.494 billion, down 3.3%.」

「As a result, revenue for the fiscal year was ¥237.461 billion, an increase of 12.3% from the previous fiscal year. Operating profit was ¥16.130 billion, up 44.8% year on year, ordinary profit was ¥14.690 billion, up 89.2%, and net profit attributable to owners of the parent was ¥9.747 billion, 2.5 times the previous year's level.」

「For the second-quarter cumulative consolidated period, consolidated revenue was ¥106.201 billion, down 1.1% year on year. Operating profit was ¥6.445 billion, down 33.4%, ordinary profit was ¥4.358 billion, down 51.6%, and quarterly net profit attributable to owners of the parent was ¥2.705 billion, down 52.5%.」