Net sales grew during the period under review in various major markets and regions for the Company’s Precision Springs business. In Japan, net sales advanced in the automotive sector. Overseas, net sales to the auto and OA sectors rose in China and elsewhere in Asia ex-Japan. The Company also benefited from net-sales increases to medical-product customers in the United Kingdom and to residential-housing-related customers in the United States. In this segment, net sales grew 18.9% to ¥15,408 million and income nearly doubled with a 99.8% rise to ¥597 million.

In Japan, the Company’s plastics business suffered a downturn in net sales to the OA sector, as offshoring of production facilities progressed. Overseas, on the other hand, net sales to the AV sector in Malaysia advanced, while net sales to the automotive sector in countries such as China and Vietnam burgeoned. Net sales in the plastics segment rose 13.6% against the previous fiscal year to ¥11,465 million and segment income soared 133.1% over the previous fiscal year to ¥333 million.

In hinge units, sales to mobile-telephone manufacturers continued to shrink, causing net sales to slump 54.7% against the previous fiscal year to ¥226 million.
The Hinges segment incurred a segment loss of ¥112 million (compared with a loss of ¥27 million in the previous fiscal year).
*Hinge Business is to be consolidated with Precision Spring Business.