津田駒工業 announced that price pass-through for its products paid off, turning ordinary income positive in its third-quarter results. The company is working to improve the financial condition of its Chinese subsidiary.
津田駒工業 released its third-quarter results. The company reported that progress in passing through product price increases, together with an improvement in its gross profit margin, helped turn ordinary income positive.
The company identified the effects of price pass-through as a factor behind its third-quarter recovery and appears to be working to establish a stable earnings base.
The company has indicated a policy of improving the financial condition of its Chinese subsidiary, with stronger financial management at the local subsidiary and improved capital efficiency expected to follow.