Increase in revenue and profit due to such factors as large increase in
vehicle materials profit
In the current period, the Japanese economy showed positive signs of a trend towards recovery, including the continued weak yen and high stock prices against a backdrop of governmental economic and monetary policies and visible indications of improvements in corporate earnings and consumer spending. Conversely, economic indicators in the global economy, such as sluggish European markets and the deceleration of the growth of the Chinese economy, remain uncertain.
Seiren Group established a medium-term policy promoting “reform into a 21st century company!” and is working on its medium-term business strategy, the pillars of which are the “creation of new business” and “global business expansion,” in order to ensure that it always meets its customers’ needs, to secure stable revenue, and to achieve continuous growth even in a continuously changing business environment. Additionally, we are promoting enhancement of our corporate culture through such things as development of the human resources required to implement our medium-term business strategy and improvement of our organizational functions along with strengthening our earning capacity through improvement of productivity, improvement and promotion of operational efficiency, and cost reduction.
Furthermore, we have merged our two consolidated subsidiary group companies Alma Japan Corporation and Seiren Aucus Co., Ltd., and made Nagoya Seiren Co., Ltd. a wholly-owned subsidiary of Seiren Co., Ltd. in order to improve group operational efficiency and optimize business.
In regard to our consolidated business performance in the current period, net sales were 97.982 billion yen (8.4% increase compared with the previous period), operating income was 5.849 billion yen (51.9% increase compared with the previous period), ordinary income was 6.409 billion yen (43.7% increase compared with the previous period), and net income was 4.204 billion yen (55.0% increase).
Chairman and C.E.O. Tatsuo Kawada