Note:This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
The Fiscal Year ended June 30, 2024
Financial Results
Consolidated Statements of Operations
Consolidated | Q1/FY2023 | Q1/FY2024 | YoY | |||
（millions of yen） | （％） | （millions of yen） | （％） | （millions of yen） | （％） | |
Net sales | 21,725 | 100.0 | 21,634 | 100.0 | (90) | (0.4) |
Gross profit | 5,693 | 26.2 | 5,681 | 26.3 | (11) | (0.2) |
Operating income | 1,280 | 5.9 | 1,162 | 5.4 | (118) | (9.2) |
Ordinary income | 3,036 | 14.0 | 3,603 | 16.7 | 567 | 18.7 |
Quarterly net income | ||||||
attributable to owners | 2,502 | 11.5 | 3,015 | 13.9 | 512 | 20.5 |
of parent | ||||||
Capital Expenditure | 535 | 2,442 | ||||
Depreciation | 804 | 816 | ||||
R&D Expenditure | 480 | 492 | ||||
Sales：Decline
Operating Income
Decline
Ordinary Income
Growth
Focus of Q1/FY2024 results
Demands for Semiconductor manufacturing equipment showed recovery signs, while recovery in sales to the automobile industry was at a standstill
Impact of rising labor and logistics costs, etc.
Equity in earnings of affiliates increased due to a recovery in demand from
Impacted by lower operating income and foreign exchange gains
the Semiconductor industry
Quarterly Earnings
Net Sales | Belt, Rubber | Hose, Tube | Chemical | Other Products | Income | ||||||
(millions of yen) | Others | Operating income | Ordinary income | (millions of yen) | |||||||
25,000 | 22,439 | 22,523 | 22,863 | 5,000 | |||||||
22,006 | 21,725 | 22,040 | 21,980 | 21,634 | |||||||
21,029 | |||||||||||
20,000 | 4,000 | ||||||||||
15,000 | 3,000 | ||||||||||
10,000 | 2,000 | ||||||||||
5,000 | 1,000 | ||||||||||
0 | 0 | ||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | |||
FY2022 | FY2023 | FY2024 |
Consolidated Performance
NET SALES | Q1/FY2023 | Q1/FY2024 | YoY | |
(millions of yen) | (millions of yen) | (millions of yen) | (%) | |
Belt and Rubber | 7,307 | 6,934 | △ 372 | △ 5.1 |
Hose and Tube | 7,821 | 7,846 | 25 | 0.3 |
Chemical Industrial Products | 2,878 | 2,943 | 64 | 2.3 |
Other Industrial Products | 2,686 | 2,762 | 75 | 2.8 |
Others | 1,030 | 1,147 | 116 | 11.3 |
TOTAL | 21,725 | 21,634 | △ 90 | △ 0.4 |
OPERATING INCOME | Q1/FY2023 | Q1/FY2024 | YoY | |
(millions of yen) | (millions of yen) | (millions of yen) | (%) | |
Belt and Rubber | 794 | 733 | △ 61 | △ 7.7 |
Hose and Tube | 61 | 65 | 3 | 6.5 |
Chemical Industrial Products | 163 | 178 | 14 | 8.7 |
Other Industrial Products | 103 | 31 | △ 72 | △ 69.9 |
Others | 579 | 623 | 43 | 7.6 |
Corporate Expenses & Eliminations | △ 422 | △ 469 | △ 46 | ー |
TOTAL | 1,280 | 1,162 | △ 118 | △ 9.2 |
YoY Changes in Quarterly Earnings
Belt and Rubber Products
Sales(Q1 YTD) | Segment income(Q1 YTD) | |||||
¥7,307M | ¥6,934M | ¥794 | M | M | ||
(5.1)％ | (7.7)％ | ¥733 | ||||
Q1/FY2023 | Q1/FY2024 |
Sales | Segment |
Income | |
(¥million) | |
(¥million) | |
Q1/FY2023 | Q1/FY2024 |
Note (＋):Favorable (－):Unfavorable
Belt Products
(−) Logistics industry in Japan
- Electronic components industry in Asia (−) Textile machinery in Europe and Asia
Rubber Products
(+) Electronic components industry
FY2023
FY2024
Belt | Rubber | Rubber |
・Logistics | ・Civil engineering | Temperature- |
・Textile machinery | ・Bridges | sensitive tapes |
・Paper converting | ・Machine Tools | ・Electronic |
machinery | components | |
・Electronic parts | RFID products | |
・Linen industry |
YoY Changes in Quarterly Earnings
Hose and Tube Products
Sales(Q1 YTD) | Segment income(Q1 YTD) | |||||
¥7,821M | ¥7,846M | ¥61 | M | M | ||
＋0.3％ | ＋6.5％ | ¥65 | ||||
Q1/FY2023 | Q1/FY2024 |
Sales | Segment |
Income | |
(¥million) | |
(¥million) | |
FY2023 | FY2024 | |
Q1/FY2023 | Q1/FY2024 |
Note (＋):Favorable (－):Unfavorable
for General Industry
- Recovery trend to Semiconductor manufacturing equipment industry in Japan and Korea
for Automotive
(ー) Recovery stalled in Japan and overseas
Mechatronics Products
(+) Sales in Japan and North America
for General | for | Mechatronics |
Industry | Automotive | ・Automobiles |
・Semiconductor | ・Automobiles | Production line |
manufacturing | ・Truck/Bus | |
equipment | ||
・Construction | ||
machinery |
YoY Changes in Quarterly Earnings
Chemical Industrial Products
Sales(Q1 YTD) | Segment income(Q1 YTD) | |||||
¥2,878M | ¥2,943M | ¥163 | M | M | ||
+2.3％ | +8.7% | ¥178 | ||||
Q1/FY2023 | Q1/FY2024 |
Sales | Segment |
Income | |
(¥million) | |
(¥million) | |
Q1/FY2023 | Q1/FY2024 |
Note (＋):Favorable (－):Unfavorable
Rubber Products
(+) Railway industry in Japan and overseas
Elastomer Products
(+) OA Equipments
FY2023
FY2024
Rubber | Waterproof | Erastomer |
・Railway industry | ・Civil engineering | ・OA equipment |
・Architecture |
YoY Changes in Quarterly Earnings
Other Industrial Products
Sales(Q1 YTD) | Segment income(Q1 YTD) | |||||
¥2,686M | ¥2,762M | ¥103 | M | M | ||
+2.8％ | (69.9)％ | ¥31 | ||||
Q1/FY2023 | Q1/FY2024 |
Sales | Segment |
Income | |
(¥million) | |
(¥million) | |
FY2023 | FY2024 | |
Q1/FY2023 | Q1/FY2024 |
Note (＋):Favorable (－):Unfavorable
Air Solution Products
- Repeat demand for filter products to Semiconductor, Electronic component, and Pharmaceutical industries in Japan
(ー) Measuring instrument
Other Products
(ー) Medical products such as blood circulation circuits
Air Solution | Air Solution | Other |
Filter Products | Measuring | Blood circuits |
・Semiconductor | instrument | ・Medical Equipment |
・Pharmaceutical | ・Semiconductor | |
・Hospital | ・Electronic parts | |
・Pharmaceutical |
YoY Changes in Quarterly Earnings
Others
Sales(Q1 YTD) | Segment income(Q1 YTD) | |||||
¥1,030M | ¥1,147M | ¥579 | M | M | ||
＋11.3％ | ＋7.6％ | ¥623 | ||||
Q1/FY2023 | Q1/FY2024 |
Sales | Segment |
Income | |
(¥million) | |
(¥million) | |
Q1/FY2023 | Q1/FY2024 |
Note (＋):Favorable (－):Unfavorable
Management Guidance Business
- Revenues increased due to strong performance of the subject businesses
Real Estate Business
(＋) Same level as Q1/FY2023
FY2023
FY2024
Real Estate | Other | Other |
・Land and | Forestry business | Driving School |
Building leasing | Business |
Overseas Sales Ratio
As a result of the further weakness of the yen from FY2023 forward, the overseas sales ratio increased in Q1/FY2024.
Q1/FY2022 | Q1/FY2023 | Q1/FY2024 |
Overseas Ratio 31.7％ | Overseas Ratio 30.0% | Overseas Ratio 31.6% |