Working-hour reductions, cost cuts and use of public financial support in response to declining orders

「In addition, amid elevated bullion prices and energy prices, we worked to strengthen cost management and optimize transaction terms.」

「In addition to the increase in productivity resulting from these measures, higher selling prices accompanying the surge in bullion prices and the effects of price revisions contributed to both net sales and profit exceeding the previous year’s levels despite the challenging business environment.」

「Even amid this difficult external environment, we implemented various measures to secure earnings, including reviewing selling prices and exercising thorough cost control.」

「Against this backdrop, in order to achieve our management objective of “Creating a better world through jewelry creation,” we focused on developing high-value-added products, including functional products that contribute to women's participation in the workforce and allergy-conscious products, leveraging our proprietary technology, as well as reducing product weight and developing and selling highly functional products with asset value. We also implemented various measures to expand performance, including thoroughly reducing manufacturing costs, reviewing manufacturing costs, strengthening our production system, and passing increases in manufacturing costs through to selling prices. As a result of these business activities, net sales for the fiscal year were ¥3,930 million, up 11.5% from the previous fiscal year, operating income was ¥149 million, up 38.8%, and ordinary income was ¥146 million, up 26.9%.」

「Against this backdrop, in order to achieve our management objective of “Creating a better world through jewelry creation,” we undertook various measures, including strengthening the development of high-value-added products, allergy-conscious products and functional products leveraging our proprietary technology, passing cost increases caused by higher prices for raw materials, energy and various consumables through to selling prices, thoroughly reducing manufacturing costs, improving productivity per hour, and expanding sales channels.」

「Against this backdrop, in order to achieve our management objective of “Creating a better world through jewelry creation,” we undertook various measures, including developing high-value-added products and products designed with allergy considerations, thoroughly reducing manufacturing and other costs, improving productivity per hour, expanding sales channels, strengthening efforts to acquire new customers, and passing increases in manufacturing costs caused by higher raw material and energy prices through to selling prices. We also focused on reducing product weight and developing and selling products with high functionality and asset value by leveraging our proprietary technology to meet the needs of business partners and consumers. Overseas sales remained strong, partly due to the historically weak yen. As a result, net sales for the first quarter of the fiscal year were ¥991 million, up 14.4% year on year. Operating income was ¥63 million, up 317.4%, ordinary income was ¥64 million, up 312.7%, and quarterly net income was ¥47 million, up 329.6%.」

「Against this backdrop, in order to achieve our management objective of “Creating a better world through jewelry creation,” we undertook various measures to expand performance, including reducing manufacturing and other costs, strengthening our production system, and passing increases in manufacturing costs through to selling prices.」

「Against this backdrop, in order to achieve our management objective of “Creating a better world through jewelry creation,” we undertook various measures to expand performance and improve profitability, including passing increases in manufacturing costs caused by higher prices for gold, platinum and other principal raw materials through to selling prices, reducing manufacturing and other costs, and establishing and strengthening our production system. Although domestic sales were affected by a difficult market environment caused by inflation and other factors, overseas sales remained strong, helped by the weaker yen and other factors.」

「Against this backdrop, in order to achieve our management objective of “Creating a better world through jewelry creation,” we have undertaken various measures to expand performance and improve profitability, including passing increases in manufacturing costs caused by higher prices for gold and platinum, our principal raw materials, through to selling prices, reducing manufacturing-related expenses, and establishing a production system aligned with order volumes. We have also worked to strengthen our sales structure and expand sales channels.」

「Against this backdrop, we have undertaken various measures to expand performance and improve profitability, including passing increases in manufacturing costs through to selling prices and reducing manufacturing-related expenses, in order to achieve our management objective of “Creating a better world through jewelry creation.”」

「In terms of profit, in addition to the effects of increased sales, productivity improvements and thorough cost reductions achieved by setting efficient working hours according to order volumes, implemented during the state of emergency in the previous fiscal year, became established. As a result, operating income was ¥81 million, an increase of ¥112 million year on year, ordinary income was ¥84 million, an increase of ¥102 million, and quarterly net income was ¥57 million, an increase of ¥77 million.」

「In terms of earnings, increased sales, higher productivity from setting efficient working hours in line with order volumes, and thorough cost reductions, which have continued since the previous fiscal year, resulted in operating income of ¥59 million, up ¥56 million year on year, ordinary income of ¥62 million, up ¥59 million, and quarterly net income of ¥41 million, up ¥39 million.」

「In parallel with these measures, we also shortened employees' working hours by setting working hours and non-operating days in line with order volumes, implemented comprehensive cost reductions, including the voluntary return of executive compensation, and used public funds by obtaining employment adjustment subsidies and raising funds at virtually zero interest from financial institutions.」

「Against this backdrop, as orders for our products fell sharply from March, we implemented various measures to continue our business activities while working to prevent the spread of the novel coronavirus. Specifically, we shortened employees' working hours by setting working hours and non-operating days in line with order volumes, implemented comprehensive cost reductions, including the voluntary return of executive compensation, reduced assets by cutting inventories and curbing capital investment, and used public funds by obtaining employment adjustment subsidies and raising funds at virtually zero interest from public financial institutions.」

「Against this backdrop, orders for our products have fallen sharply since March. While working to prevent the spread of the novel coronavirus, we have continued our business activities by shortening working hours company-wide in line with the decline in orders, implementing thorough cost reductions, using public financial support and taking other measures.」