Intensifying Price Competition and Declining FPC Prototyping and Evaluation Projects

「Although sales of FPCs to medical equipment and display manufacturers declined, sales increased because mass-production and general prototyping projects for industrial equipment manufacturers and other set manufacturers increased.」

「Sales of FPCs for other set makers and display manufacturers declined due in part to the prolonged inventory adjustments of consumer and industrial equipment products.」

「Sales declined because prolonged inventory adjustments for consumer products reduced sales to other set manufacturers, while fewer high-performance FPC projects reduced sales to medical equipment manufacturers.」

「Sales declined because prolonged inventory adjustments reduced sales to other set manufacturers, while fewer high-performance FPC (Note 3) projects reduced sales to medical equipment manufacturers.」

「Although sales to medical equipment manufacturers declined because of fewer high-performance FPC (Note 3) projects and sales to other set manufacturers (Note 4) declined because of fewer in-house mass-production projects, sales to display manufacturers increased on solid demand for industrial touch panels and similar products, while sales to camera manufacturers increased as high-performance models were actively developed. As a result, net sales increased.」

「Sales declined because demand for FPCs (Note 3) for medical equipment showed signs of leveling off, reducing high-performance product projects, while in-house mass-production projects for industrial equipment for set manufacturers (Note 4) also declined.」

「Although prototyping projects for FPCs (Note 3) for digital cameras and industrial equipment declined as research and development activity paused, orders for in-house mass-production projects for industrial and medical equipment remained solid, partly because the rising cost of overseas production management increased the tendency to return production to Japan, resulting in higher net sales.」

「Although prototype FPC (※4) projects for set makers (※3) declined as materials development projects for electronic mobile devices paused, sales increased as higher orders for mass-production projects from set makers, including camera and medical equipment manufacturers, led to higher sales revenue.」

「Although sales of high-complexity products declined because of fewer orders from medical equipment manufacturers, sales of prototyping projects to FPC manufacturers and set manufacturers, including camera manufacturers, remained solid as product development recovered fully and the industrial equipment-related market was active. As a result, net sales increased. Profit also increased because the gross profit margin improved through higher orders for high-margin prototyping projects and various measures to reduce material costs.」

「Although sales of high-complexity products to medical equipment manufacturers declined due to fewer orders, sales to set manufacturers, including camera manufacturers, increased as product development recovered and orders for FPC (Note 3) prototyping projects were secured, resulting in higher net sales.」

「Although sales to set manufacturers (Note 3) increased on higher orders for FPC (Note 4) prototyping and mass-production projects, sales declined because lower orders for high-performance products reduced sales to medical equipment manufacturers and fewer prototyping orders reduced sales to camera manufacturers.」

「Although sales to FPC manufacturers increased on higher orders for prototyping and mass-production projects, sales to camera and display manufacturers declined because of fewer orders for prototyping projects, resulting in lower net sales.」

「Although sales to FPC manufacturers increased on higher orders for mass-production projects, sales to camera and display manufacturers and others declined because of fewer orders for FPC prototyping projects, resulting in lower net sales.」

「Although sales to FPC manufacturers increased on higher orders for mass-production projects, sales to camera and display manufacturers declined because of fewer orders for FPC prototyping projects, resulting in lower net sales. Profit increased because the gross profit margin improved as labor costs declined due to natural employee attrition and other factors, and efforts were made to reduce in-process defects. Consequently, net sales declined to ¥1,144 million, down 5.7% year on year, while segment profit increased to ¥173 million, up 0.6%.」

「Although sales to display and camera manufacturers declined because of fewer orders for FPC prototyping projects, sales to other set manufacturers increased as production activity in China stagnated due to the impact of COVID-19 and some demand returned to Japan, resulting in higher net sales.」

「Sales to set manufacturers declined because of fewer orders for FPC prototyping and mass-production projects. Consequently, net sales declined to ¥2,436 million, down 9.7% year on year, and segment profit declined to ¥343 million, down 21.5%.」

「Sales declined because fewer orders for FPC prototyping projects reduced sales to camera manufacturers, fewer orders for high-complexity products reduced sales to medical equipment manufacturers, and limited growth in orders for mass-production projects reduced sales to display manufacturers. Profit declined due to the impact of lower sales.」

「Although sales to display manufacturers increased on solid demand for automotive equipment, sales declined because fewer orders for FPC prototyping projects reduced sales to camera manufacturers, while fewer orders for high-complexity products reduced sales to medical equipment manufacturers.」

「Although sales to display manufacturers increased as demand for automotive equipment remained solid, sales to camera manufacturers and other set manufacturers (Note 3) declined because of fewer orders for mass-production projects, resulting in lower net sales. Profit declined because the gross profit margin fell due to the impact of lower sales and higher labor costs and other expenses.」

「Sales increased because higher orders for mass-production projects and high-complexity products increased sales to medical equipment manufacturers and other set manufacturers.」

「Sales increased because sales to camera manufacturers and other set manufacturers rose on higher orders for FPC prototyping and mass-production projects. Profit increased because the gross profit margin improved as a result of higher orders for FPC prototyping projects, restrained capital investment, in-house production of outsourced processing and other cost reductions.」

「Sales increased because sales to camera manufacturers and other set manufacturers rose. Profit increased because the gross profit margin improved as a result of higher orders for FPC projects, restrained capital investment, in-house production of outsourced processing and other cost reductions.」

「Although sales to display manufacturers and FPC manufacturers increased, particularly for FPC prototypes, as demand for automotive equipment remained solid, sales declined because fewer orders for FPC prototyping and mass-production projects reduced sales to other set manufacturers.」

「Although sales to display manufacturers increased as demand for automotive equipment remained solid, sales declined because fewer orders for FPC prototypes and mass-production projects reduced sales to camera manufacturers and other set manufacturers.」

「Sales declined because fewer orders for FPC prototypes reduced sales to camera manufacturers and other set manufacturers, as well as FPC manufacturers.」

「Although sales to camera and display manufacturers, which are among the set manufacturers, remained at the same level as in the prior-year period, sales declined because intensifying price competition reduced sales to other set manufacturers and FPC manufacturers. While lower personnel expenses, including performance-linked bonuses, contributed to higher profit, the cost of sales ratio rose due to fewer orders for FPC prototypes, resulting in lower profit. Consequently, net sales declined to ¥2,954 million, down 6.2% year on year, and segment profit declined to ¥303 million, down 22.3%.」

「Although sales to camera manufacturers, which are among the set manufacturers, increased, sales to other set manufacturers and FPC manufacturers declined because of intensifying price competition, resulting in lower net sales. Profit declined because the cost of sales ratio rose, mainly as a result of fewer orders for FPC prototypes.」

「Although sales to camera manufacturers, which are among the set manufacturers, increased, sales declined because intensifying price competition reduced sales of prototyping projects and evaluation FPCs for display manufacturers. Consequently, net sales declined to ¥1,422 million, down 6.5% year on year, and segment profit declined to ¥120 million, down 44.7%.」