Securing profitability through cost reductions and productivity improvements

「Operating profit increased year on year to ¥2,343 million, up ¥2,180 million, or 1,337.1%, owing to the promotion of rationalization measures, including cost reductions, productivity improvements and expense reductions, at each subsidiary, as well as the resolution of a one-off production equipment problem at the North American subsidiary that occurred in the previous fiscal year.」

「Operating profit increased in China, Europe and Japan as the Group worked to secure earnings through rationalization, including cost reductions, productivity improvements and expense reductions, as well as initiatives to improve profitability, including sales price revisions at each group company. However, operating profit was also affected by sluggish sales growth and higher labor costs in North America, and lower sales mainly in Indonesia and Vietnam within Asia, resulting in operating profit of ¥365 million, down ¥2,615 million year on year, or 87.8%.」

「Regarding profit and loss, the Group worked to secure earnings through rationalization, including cost reductions, productivity improvements and expense reductions, as well as initiatives to improve profitability, including sales price revisions at each group company. Operating profit increased in China, Europe and Japan, although」

「Regarding profit and loss, the Group worked to secure earnings through rationalization, including cost reductions, productivity improvements and expense reductions, as well as initiatives to improve profitability, including sales price revisions at each group company. Operating profit increased in China, Europe and Japan, but was affected by sluggish sales growth and higher labor costs in North America, as well as lower sales in South Korea within Asia. Operating profit was ¥208 million, up ¥59 million year on year, or 40.2%, with the increase in profit remaining modest.」

「Operating income was ¥2,980 million, compared with an operating loss of ¥4,856 million in the same period of the previous year, as the company advanced initiatives to improve earnings, including securing earnings through rationalization measures such as cost reductions, productivity improvements and expense reductions, and revising sales prices at each group company.」

「Despite higher material costs due to soaring resource and material prices, a sharp increase in procurement costs caused by semiconductor shortages, persistently high transportation costs due to the global container shortage and higher labor costs due mainly to labor shortages in the United States, operating income was ¥1,468 million, compared with an operating loss of ¥3,282 million in the same period of the previous year, as sales volumes at major customers increased and the company worked to secure earnings through rationalization, including cost reductions, productivity improvements and expense reductions.」

「In Japan, despite the impact of delays in resolving semiconductor shortages, net sales were ¥27,963 million, up ¥2,936 million year on year, or 11.7%, partly due to the increase in the yen value of foreign-currency-denominated transactions. Operating income was ¥668 million, up ¥80 million year on year, or 13.6%, as the impact of higher procurement costs resulting from soaring component prices and other factors offset efforts to secure earnings through rationalization, including cost reductions, productivity improvements and expense reductions.」

「Although the Group worked as one to reduce costs, operating income was ¥148 million, up ¥29 million, or 24.6%, year on year, due to the impact of persistently high resource and raw material prices and logistics costs, mainly as a result of global inflation, delays in passing these higher costs through to selling prices, higher labor costs caused by tight labor markets and other factors.」

「The premium retirement payments associated with an early-retirement program implemented at a consolidated subsidiary were recognized as special retirement payments under extraordinary losses.」

「In these circumstances, the group made every effort to secure earnings through rationalization measures such as productivity improvements and expense reductions, while making the health and safety of employees and other stakeholders its top priority and thoroughly implementing measures to prevent the infectious disease, including staggered working hours and remote work.」

「In these circumstances, the group made every effort to secure earnings through rationalization measures such as productivity improvements and expense reductions, while making the health and safety of employees and other stakeholders its top priority and thoroughly implementing measures to prevent the infectious disease, including staggered working hours and remote work.」

「In these circumstances, the group made every effort to secure earnings through rationalization measures such as productivity improvements and expense reductions, while making the health and safety of employees and other stakeholders its top priority and thoroughly implementing measures to prevent the infectious disease, including staggered working hours and remote work.」

「In Japan, sales volumes at major customers increased as the market recovered from the infectious disease outbreak, although production cuts due to semiconductor shortages also had an impact. Net sales were ¥39,548 million, up ¥5,751 million year on year, or 17.0%. Operating income was ¥2,740 million, up ¥1,627 million year on year, or 146.2%, as the company worked to secure earnings through rationalization measures including cost reductions, productivity improvements and expense reductions, although the impact of production cuts due to semiconductor shortages expanded from the third quarter onward.」

「In Japan, despite the impact of customer production adjustments and other factors resulting from the spread of COVID-19, sales volumes at major customers increased, and net sales were ¥27,148 million, up ¥2,500 million year on year, or 10.1%. Operating income was ¥2,151 million, up ¥925 million year on year, or 75.5%, as a result of securing earnings through rationalization measures including cost reductions, productivity improvements and expense reductions.」

「Operating income was ¥2,047 million, up ¥340 million year on year, or 20.0%, as earnings were secured in Japan and Asia through cost reductions, productivity improvements and expense reductions, and sales in China began to recover from the decline caused by the infectious disease outbreak in the previous fiscal year, although the impact of the outbreak was not fully eliminated in North America, Europe and South America.」

「To address these issues, in addition to measures ① through ⑤ described above, the group will work to secure future earnings by steadily implementing measures at each location, including workforce reductions, material cost reductions and expense reductions」

「Operating results were an operating loss of ¥1,304 million, compared with operating income of ¥6,005 million in the same period of the previous year, as efforts to rationalize operations, including productivity improvements, did not offset the impact of lower capacity utilization resulting from reduced sales due to the impact of infectious diseases and other factors.」

「Operating income fell significantly year on year to ¥1,287 million, down ¥2,969 million, or 69.8%, as efforts to rationalize operations, including productivity improvements, did not offset the impact of lower capacity utilization resulting from reduced sales due to the impact of infectious diseases and other factors.」

「In China, net sales were ¥9,776 million, down ¥622 million year on year, or 6.0%, mainly because domestic sales remained sluggish due to the trade dispute with the United States. Operating income remained solid as a result of efforts to reduce costs and improve productivity, reaching ¥384 million, up ¥330 million year on year, or 607.8%.」

「The company sought to achieve high quality at low cost by optimizing product materials and design, and to quickly propose new products that exceed customer expectations」

「In North America, net sales were ¥23,282 million, up ¥2,615 million year on year, or 12.7%, reflecting solid sales to customers and a recovery in sales to Korean automakers. Despite efforts to reduce costs and improve productivity, operating income was ¥771 million, down ¥294 million year on year, or 27.6%, partly due to the higher costs associated with launching new orders, as described above.」

「Operating income was ¥9,106 million, as the company worked to secure earnings through thorough cost reductions, down ¥3,605 million year on year, or 28.4%.」

「Operating income was ¥3,362 million, as the company worked to secure earnings through thorough cost reductions, down ¥1,139 million year on year, or 25.3%.」

「Operating income was ¥12,712 million, as the company worked to secure earnings through thorough cost reductions, down ¥1,630 million year on year, or 11.4%.」

「The group’s results for the six months ended the second quarter of the current consolidated fiscal year reflected solid sales mainly in Japan and Asia and the inclusion of sales from a newly consolidated European subsidiary. Net sales were ¥131,047 million, up ¥6,076 million year on year, or 4.9%. Operating income was ¥9,038 million, as the company worked to secure earnings through thorough cost reductions, down ¥1,218 million year on year, or 11.9%.」

「Operating income was ¥4,577 million, as the company worked to secure earnings through thorough cost reductions, down ¥722 million year on year, or 13.6%.」