Production, Fixed-Cost and Employment Adjustments in Response to a Sharp Drop in Demand
First written in FY2020. 5 of 8 entries say "Advanced", first in FY2021-Q1. Latest entry: FY2026-H1.
The whole theme swung hardest in 2022: 1 of 9 companies on the "Worse" side.
7 other companies' latest entry also says "Advanced".
- FY2026-H1AdvancedAnnual report
「Against this business backdrop, progress in structural reforms and the establishment of sustainable sales prices, among other factors, resulted in net sales of ¥142,998 million, down 3.7% year on year, operating profit of ¥3,256 million, up 440.6%, ordinary profit of ¥3,390 million, up 289.7%, and interim net profit attributable to owners of the parent of ¥2,483 million, up 231.6%.」
Progress in structural reforms and the establishment of sustainable sales prices led to a substantial increase in operating profit, ordinary profit and interim net profit from the same period of the previous year, while net sales declined. - FY2023-Q3AdvancedAnnual report
「For the nine-month period ended 31 December, in addition to adjusting sales prices appropriately to reflect higher costs for raw materials and electricity and capturing solid demand for extra-large wheels for mining machinery, sales and profit recovered substantially from the same period of the previous year due to cost improvements from structural reforms and other measures. Net sales were ¥248,801 million, up 26.3% year on year, operating profit was ¥5,355 million, compared with an operating loss of ¥849 million, ordinary profit was ¥6,255 million, compared with an ordinary loss of ¥672 million, and net profit attributable to owners of the parent was ¥4,666 million, compared with a net loss attributable to owners of the parent of ¥1,490 million.」
Appropriate sales pricing, demand capture and cost improvements from structural reforms and other measures caused consolidated operating results, ordinary results and profit attributable to owners of the parent to turn from losses in the same period of the previous year into profits. - FY2023-Q2AdvancedAnnual report
「For the six-month period ended 30 September, in addition to adjusting sales prices appropriately to reflect higher costs for raw materials and energy and capturing solid demand for undercarriage components for construction machinery and extra-large wheels for mining applications, sales and profit recovered substantially from the same period of the previous year due to cost improvements from structural reforms and the recognition of foreign exchange valuation gains resulting from the yen's depreciation. Net sales were ¥156,109 million, up 24.8% year on year, operating profit was ¥1,540 million, compared with an operating loss of ¥1,462 million in the same period of the previous year, ordinary profit was ¥2,794 million, compared with an ordinary loss of ¥1,588 million, and net profit attributable to owners of the parent was ¥2,082 million, compared with a net loss attributable to owners of the parent of ¥1,472 million.」
Cost improvements from structural reforms and other measures led to a substantial recovery in net sales and profit from the same period of the previous year, with operating results, ordinary results and profit attributable to owners of the parent all turning from losses into profits. - FY2022-Q1AdvancedAnnual report
「We implemented measures to improve earnings, including continuing the fixed-cost reductions undertaken as emergency earnings improvement measures last fiscal year and establishing a Sales Headquarters in April this year as an organization reporting directly to management to strengthen sales capabilities.」
We continued to reduce fixed costs and established a Sales Headquarters reporting directly to management in April this year to strengthen sales capabilities. - FY2021-Q3RestatedAnnual report
「In addition, we established the Company-wide Management Reform Committee and pursued emergency earnings improvement measures, including reducing fixed costs by reviewing the production structure in immediate response to the substantial decline in demand.」
Under the Company-wide Management Reform Committee, we continue to pursue emergency earnings improvement measures, including reducing fixed costs through a review of the production structure. - FY2021-Q2RestatedAnnual report
「Against this business backdrop, the Group focused on continuing production and ensuring stable supply to customers while taking thorough measures to prevent COVID-19 infections. We also established the Company-wide Management Reform Committee and pursued emergency earnings improvement measures, including reviewing the production structure in immediate response to the substantial decline in demand and reducing all types of expenses.」
We continue to take measures to prevent infections, continue production, ensure stable supply, and review the production structure and reduce expenses through the Company-wide Management Reform Committee. - FY2021-Q1AdvancedAnnual report
「Against this business backdrop, the Group established the Company-wide Management Reform Committee and continued to pursue cost reductions through emergency earnings improvement measures, including reviewing the production structure in immediate response to the substantial decline in demand and reducing head-office expenses. In addition, we secured funds to prepare for sudden changes in the business environment by restraining capital investment and establishing a commitment line. We are also accelerating structural reforms, including optimizing the Group's production structure for the automotive and industrial machinery parts businesses, while prioritizing the key themes of the medium-term management plan “Growth & Change 2021,” namely “Improving Earnings Power” and “Realizing Group Synergies.”」
In addition to the previous review of the production operating structure and fixed-cost reductions, we established the Company-wide Management Reform Committee, reduced head-office expenses, restrained capital investment, established a commitment line, and implemented and accelerated optimization of the Group's production structure. - FY2020First statedAnnual report
「・Review of the production operating structure in immediate response to the substantial decline in demand ・Reduction of fixed costs to rebuild the earnings base ・Reduction of directors' compensation and management salaries ・Application for employment adjustment subsidies and implementation of temporary closures」
In response to the sharp decline in demand caused by COVID-19, we listed a review of the production operating structure, fixed-cost reductions, reductions in directors' and management salaries, applications for subsidies, and temporary closures.