Cumulative second-quarter net sales and profit up year on year

「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%.」

「Net sales for the six-month consolidated accounting period were ¥115.887 billion, down 2.4% year on year, as demand in China's industrial machinery sector partially recovered but was affected by sluggish demand in the construction machinery sectors in Japan and Europe and inventory adjustments in the aftermarket sector in ASEAN. In terms of earnings, operating conditions deteriorated for hydraulic equipment and bearings, among other products. However, as a result of reducing fixed costs through structural reforms, passing higher raw material costs on to selling prices, automating and streamlining production lines, and lowering procurement costs, operating income rose 79.8% to ¥4.213 billion and ordinary income rose 103.7% to ¥2.957 billion.」

「Net sales for the cumulative second quarter were ¥118.712 billion, down 12.2% year on year. Although automobile production recovered, mainly in Japan, and demand expanded in the industrial machinery and aftermarket sectors in the Americas, demand declined in areas including construction machinery and industrial machinery in China and Europe, and some Japanese automakers reduced production. Operating income was ¥2.342 billion, down 69.2%, ordinary income was ¥1.452 billion, down 79.4%, and net income attributable to owners of the parent was ¥779 million, down 83.5%.」

「Net sales for the fiscal year were ¥265.464 billion, an increase of 2.9% from the previous fiscal year.」

「Sales for the cumulative second quarter were ¥135.264 billion, up 10.8% year on year, supported by firm demand in the industrial machinery and aftermarket sectors and recovering demand for capital goods, particularly expanded robot sales centered on North America and China and the recovery and expansion of demand for machine tools and bearings, despite production adjustments in some automotive and construction machinery sectors. Although capacity utilization improved with higher sales and production, the company passed higher raw material costs through to selling prices, pursued automation and rationalization of production lines and procurement cost reductions, and benefited from the yen's depreciation, operating profit fell to ¥7.612 billion, down 6.0%, ordinary profit to ¥7.047 billion, down 19.6%, and net profit attributable to owners of the parent to ¥4.727 billion, down 18.9%, due to continued high raw material and energy prices from the previous fiscal year and higher fixed costs.」

「Consolidated net sales for the cumulative second quarter were ¥122.092 billion, up 9.0% year on year. Operating profit was ¥8.100 billion, up 25.9%, ordinary profit was ¥8.769 billion, up 34.8%, and net profit attributable to owners of the parent was ¥5.830 billion, up 30.3%. Results benefited from improved capacity utilization due to higher sales and production, the pass-through of higher raw material costs into selling prices, productivity gains from automation and rationalization of production lines, procurement cost reductions, and the yen's depreciation.」

「Consolidated net sales for the cumulative second quarter were ¥112.047 billion, up 8.0% year on year, including domestic sales of ¥57.385 billion, up 1.7%, and overseas sales of ¥54.661 billion, up 15.4%. Operating profit was ¥6.435 billion, up 2.4 times, ordinary profit was ¥6.505 billion, up 4 times, and net profit attributable to owners of the parent was ¥4.474 billion, up 10 times, reflecting improved capacity utilization from higher sales and production, productivity gains from rationalization and in-house production implemented since the previous year, and lower selling, general and administrative expenses from more efficient operations, as well as the effects of total cost reductions.」

「However, the spread of COVID-19 had a significant impact on the automotive and industrial machinery sectors in Japan and overseas. As a result, consolidated net sales for the cumulative second quarter were ¥103.792 billion, down 18.4% year on year, including domestic sales of ¥56.433 billion, down 18.5%, and overseas sales of ¥47.359 billion, down 18.3%. Operating profit was ¥2.636 billion, down 64.8%, ordinary profit was ¥1.606 billion, down 75.7%, and net profit attributable to owners of the parent was ¥445 million, down 89.4%, due mainly to lower capacity utilization resulting from the decline in sales.」

「As a result, consolidated net sales for the cumulative second quarter were ¥127.165 billion, up 2.0% year on year, including domestic sales of ¥69.207 billion, up 8.9%, and overseas sales of ¥57.957 billion, down 5.2%. Although the company raised selling prices and pursued cost reductions, profitability was pressured by the yen's appreciation, rising raw material and energy prices, and higher personnel expenses. Operating profit was ¥7.481 billion, down 7.8%, ordinary profit was ¥6.604 billion, down 6.6%, and net profit attributable to owners of the parent was ¥4.212 billion, down 6.3%.」

「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, consolidated net sales for the cumulative second quarter were ¥114.485 billion, up 7.8% year on year, including domestic sales of ¥57.128 billion, up 1.6%, and overseas sales of ¥57.356 billion, up 14.8%. Operating profit was ¥7.723 billion, up 19.8%, ordinary profit was ¥6.793 billion, up 55.9%, and net profit attributable to owners of the parent was ¥4.647 billion, up 71.8%.」