Continuing Production and Supply While Implementing Measures to Prevent the Spread of COVID-19

「In the third year of the medium-term management plan (VISION2025), the Group strengthened its efforts to achieve the plan, including starting operations at the Hamamatsu plant, a production and development site for products that contribute to a low-carbon society, and increasing the number of products manufactured by the Philippine subsidiary established to strengthen BCP (business continuity planning).」

「Against this backdrop, in the third year of the medium-term plan (VISION2025), the Group strengthened its efforts to achieve the plan, including operating the Hamamatsu plant as a production and development site for products that contribute to a low-carbon society and increasing the number of products manufactured at the Philippine subsidiary established to strengthen BCP (business continuity planning).」

「Under these circumstances, in the third year of the medium-term plan (VISION2025), the Group commenced operations at the Hamamatsu Factory, a production and development base for products that contribute to achieving a low-carbon society. It also accelerated the expansion of production capacity at the Philippines Factory, which commenced operations to support BCP, and pursued initiatives to achieve the medium-term plan.」

「Under these circumstances, in the third year of the medium-term management plan (VISION2025), the Group commenced operations at the Hamamatsu Factory, which serves as a production and development base for products that contribute to achieving a low-carbon society, and at the Philippines Factory, an overseas base supporting business continuity planning (BCP). The Group is steadily advancing initiatives to achieve the medium-term management plan.」

「Under these circumstances, the Group worked to normalise the temporary production system, including backup production implemented in response to the lockdown at its Vietnamese subsidiary in the previous fiscal year, while also pursuing initiatives to achieve the priority objectives of the medium-term plan (VISION2025) in its second year.」

「Production activities were carried out at both domestic and overseas plants with sufficient infection-control measures. However, in the previous fiscal year in China and India, and in the current fiscal year in India and Vietnam, orders to suspend plant operations or measures to scale back production were issued against the backdrop of the spread of COVID-19 in the regions where the plants are located, constraining production activities at the Company's plants.」

「Although our Group's factories in Vietnam continued to face operating restrictions imposed by government disease-control measures, the restrictions were finally lifted in mid-October and production activity began to recover. During the period when production activity in Vietnam was restricted, alternative production was carried out at sites in Japan, India, China and elsewhere. We will continue efforts to stabilize the supply of products to customers.」

「We will continue making every effort to increase supply volumes to customers, while also working to achieve the priority initiatives of the medium-term plan (VISION2025) in its first year.」

「For the first 3 months of the current fiscal year, sales were ¥13,199 million, up 85.1% year on year, as sales increased in all segments after thorough implementation of COVID-19 countermeasures and efforts to improve operating rates.」

「Against this backdrop, as production at customer companies, including automakers, began to recover in the second half, the Group worked to produce and supply products while implementing measures to prevent the spread of infection.」