To Our Shareholders
We would appreciate it if you could confirm the business report on the operations and results for the 116th term of the NOK Group (April 1, 2021 to March 31, 2022).
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, 2022, net sales were 682,507 million yen (up 14.4% from the previous fiscal year). In profit and loss, operating income was 31,337 million yen (up 116.6% from the previous fiscal year) and ordinary income was 46,168 million yen (up 151.8% from the previous fiscal year). Profit attributable to owners of parent was 25,835 million yen (compared to a loss attributable to owners of parent of 1,361 million yen in the previous fiscal year).
In this fiscal year, as a result of state of emergency declarations and priority measures to prevent the spread of the novel coronavirus being issued and withdrawn multiple times according to the spread of the novel coronavirus, economic activities repeatedly fluctuated between stagnating and resuming.
Although there have been signs of economic recovery as the number of vaccinations has increased, due to the supply shortage of semiconductors and other components and surging raw material prices, as well as due to the impact of lockdowns in China and the situation between Russia and Ukraine, the outlook has become even more uncertain.
Under these circumstances, in the seal business of the NOK Group, both net sales and operating income increased.
In its electronic product business, the extent of operating loss declined due to the effect of increased sales.
With recognition that it is key to further recover the earnings capability of the Electronic Product business, we are determined to push forward with various measures.
For details, please refer to the "Business Report".
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.
Representative Director, Chief Executive OfficerMasao Tsuru