Automotive Products & Batteries

Products

Automotive Products (Wire Harness, Steering Roll Connector, Lead battery state detection sensor, Perimeter monitoring radars, etc.), Automotive Batteries, Batteries for Industrial Use

Results of operations in FY2022 (Year ended March 31, 2023)

With respect to Automotive Products business, despite continued increase in prices of raw materials and fuel, and increase in labor costs due to the lockdown to contain the spread of COVID-19 in China and changes of clients’ production plans, both net sales and profit increased due to the following factors: strengthening sales of aluminum wire harness, which is an environment-friendly product because renewable energy is used in the manufacturing process and its weight-saving contributes to reducing CO2 emissions; progress in cost pass-through to cover increased raw material and fuel costs; and reduction in emergency transportation costs associated with lockdown of some production sites in Southeast Asia, which incurred in FY2021.
With respect to Automotive Products business, we will further expand sales of aluminum wire harnesses, and strive for creating high-value added products which are safe, secure and environment-friendly. In response to further increase in prices of raw material and fuel prices, we will proceed with the rationalization of selling prices through cost pass-through. Furthermore, we will establish the system which can respond flexibly to changes in clients’ production plans, and also strive to reduce costs of goods sold by improving operational processes, taking advantage of DX.