Premium Home Appliances in Key Asian Markets and Expansion into India and Africa

「Although electrical materials generated higher sales, mainly in Japan, and market conditions for European A2W products recovered, sales declined due to sluggish overseas demand for room air conditioners, lower sales of products in other segments, and the impact of foreign exchange translation. Operating profit increased 28% year on year to ¥63.6 billion, driven by higher profit in home appliances from increased domestic market share and business restructuring in cooking appliances, in electrical materials from higher domestic sales, and in air conditioning from the continued recovery of European A2W products.」

「Segment sales increased 4% from the previous fiscal year to ¥3.5842 trillion. ... Segment operating profit was ¥127.9 billion. Although lower European A2W sales had an adverse impact, operating profit increased ¥8.2 billion from the previous fiscal year due to higher sales of room air conditioners and electrical materials, including the benefits of domestic price revisions, as well as progress in improving the business structure through rationalization and other measures.」

「Although sales of home appliances in China and A2W products in Europe declined due to weak demand, sales increased as domestic home appliances and electrical materials remained firm, supplemented by the impact of foreign exchange translation. Operating profit declined 18% year on year to ¥49.4 billion. Although higher sales of electrical materials contributed positively, profit was affected by lower sales of Chinese home appliances and European A2W products and the adverse impact of foreign exchange rates.」

「Overall sales were roughly unchanged from the previous fiscal year, due to lower sales in the overseas home appliance business, weaker demand resulting from deteriorating conditions surrounding the air quality and air conditioning business in Europe, and the impact of deconsolidating part of the China business.」

「Sales declined 2% year on year to ¥1.6830 trillion. Although sales of showcases in North America and electrical materials in Japan increased, sales declined slightly due to lower underlying demand for home appliances in Asia and China, slower demand growth in Europe for the indoor air quality and air conditioning business, and the impact of deconsolidating part of the China business. Operating profit declined 18% year on year to ¥60.6 billion. Although rationalization and pricing measures progressed, profit was affected by higher fixed costs for increased production and strategic expenses, as well as additional quality-related costs.」

「In addition to being a leader in environmental initiatives, Europe has seen rapid decarbonization in recent years. The company will expand its business in this market around heat-pump water heaters and heating systems (Air to Water), which replace gas energy sources with electricity and contribute to reducing CO2 emissions.」

「(a) Lifestyle Business Sales rose 12% year on year to ¥2.6175 trillion. In addition to the impact of foreign exchange translation, sales increased as A2W products in Europe, showcases in North America, and wiring devices overseas remained firm. Operating profit increased 12% year on year to ¥104.2 billion. Despite higher raw material and logistics costs and challenges in procuring components, the company offset these factors through higher sales and initiatives including domestic and overseas price revisions.」

「(a) Lifestyle Business Sales rose 12% year on year to ¥1.7135 trillion. In addition to the impact of foreign exchange translation, sales increased as A2W products in Europe, showcases in Japan and North America, and wiring devices in India remained firm. Operating profit increased 24% year on year to ¥73.7 billion. Despite higher raw material and logistics costs and challenges in procuring components, the company offset these factors through higher sales, domestic and overseas price revisions, and rationalization initiatives.」

「(a) Lifestyle Business Sales rose 7% year on year to ¥836.5 billion. Although domestic home appliances were affected by the Shanghai lockdown, sales increased as heat-pump water heaters and heating systems in Europe, showcases in Japan and North America, and wiring devices in India remained firm.」

「In Electric Works, which focuses on electrical equipment, the company will strengthen its marketing and production systems, centered on the key regions of India, Turkey, and Vietnam, to expand its product offerings. It will also expand the business through project-based demand and new business initiatives.」

「(a) Lifestyle Business Sales rose 3% year on year to ¥2.7376 trillion. Sales increased as refrigerators in Asia and China and wiring devices in India performed well.」

「In the air conditioning business, a growth area, the company will establish a competitive advantage by focusing on strong product-market combinations and differentiating its offerings through proprietary technologies and products such as nanoe.」

「In the expanding Chinese market, the company also established a new company focused on the local market. It will provide Chinese customers with services tailored to their lifestyles by leveraging the long-term reliability, core technologies, and broad product lineup developed in Japan.」

「In the home appliance business, the company began selling locally produced refrigerators in India in April 2018, designating the country as a key region alongside China and Southeast Asia, and is pursuing profitable growth in its rapidly expanding market.」

「In India, which is designated as a key region for the home appliance business alongside China and Southeast Asia, the company began selling locally produced refrigerators in April of that year. It aims to expand its home appliance business in this rapidly growing market by delivering products that meet local market needs to customers more quickly.」

「To achieve sustained growth in sales and profit, the home appliance business will make focused investments in the air conditioning business, where growth is expected, and in small and built-in appliances such as beauty and grooming appliances and cooking appliances. It will also focus on the high-growth markets of Asia and China.」

「Sales rose 4% year on year to ¥1.3274 trillion, supported by strong air conditioner sales in China and Europe, steady refrigerator sales in Japan and Asia, and strong digital camera sales in Europe, North America, and Asia. Operating profit increased 5% year on year to ¥72.7 billion despite the impact of higher raw material prices, supported by higher sales.」

「Sales rose 2% year on year to ¥683.3 billion. Sales increased due to contributions from air conditioners, which remained firm in Japan and China, refrigerators, which performed well in Japan and Asia, and AV products such as televisions. Operating profit increased 4% year on year to ¥45.0 billion, despite the impact of higher raw material prices, supported by higher sales and rationalization benefits.」

「Operating profit for the segment was ¥104.3 billion, up ¥44.7 billion from the previous fiscal year, due to improved profitability from shifting to high-value-added products such as white goods and 4K televisions in Japan, as well as the newly consolidated Hussmann business.」

「Sales rose 1% year on year to ¥1.8052 trillion. Despite the impact of foreign exchange rates, sales increased as home appliance sales in Japan and Asia remained strong and Hussmann was newly consolidated. Segment profit increased 51% year on year to ¥102.5 billion, due in part to Hussmann and improved profitability from shifting to high-value-added products such as white goods and 4K televisions.」

「Segment profit increased year on year to ¥71.5 billion, up 67%, due in part to improved profitability from shifting to high-value-added products, including 4K televisions and air conditioners, in addition to Hussmann.」

「The company will accelerate the rollout of premium products in key Asian countries, while strengthening its product lineup in India and its sales base in Africa to capture future growth markets.」