Message from the CEO
To Our Shareholders
We would like to express our sincere thanks for your loyal patronage.
We would appreciate it if you could confirm the business report on the operations and results for the 114th term of the NOK Group (April 1, 2019 to March 31, 2020).
Recognizing the importance of achieving the basic management policy of establishing a highly profitable and strong corporate group by “producing low-cost original products―backed by technology―which are useful to society, and selling them at reasonable prices all over the world,” the NOK Group develops business management based on this policy.
In the consolidated business results for the fiscal year ended March 31, 2020, net sales were 626,815 million yen (down 6.4% from the previous fiscal year). In profit and loss, operating income was 12,028 million yen (down 48.0% from the previous fiscal year) and ordinary income was 17,373 million yen (down 44.2% from the previous fiscal year). Loss attributable to owners of parent was 2,218 million yen (compared to a profit attributable to owners of parent of 3,419 million yen in the previous fiscal year).
During the consolidated fiscal year under review, there is a rapid downturn with companies around the world shutting down their production activities due to the impact of the novel coronavirus outbreak, on top of sluggish exports owing to a slowdown of overseas economies and the effects of large typhoons. The coronavirus pandemic has been raising uncertainty in the global economy as a whole.
Under such circumstances, the NOK Group saw both net sales and operating income decline due to a decrease in sales of the Seal business and the Electronic Product business. Economic recovery largely depends on the novel coronavirus outbreak being contained and it is extremely difficult to accurately predict when that will happen.
We would like to ask a favor of each shareholder to have a deep understanding of the business environment surrounding the NOK Group, management direction and our determination. We also ask you for your further support and cooperation.
Chairman of the BoardMasato Tsuru