In the past Q3, due to the prolonged effects of the semiconductor supply shortage that has been continuing since last year, domestic automobile production bottomed out in October and has recovered to a certain extent since November, but it did not reach the recovery production that we had previously expected.
Consolidated net sales of the Group were JPY143.4 billion, operating income was JPY5.6 billion, ordinary income was JPY8.5 billion, and net income for the quarter was JPY6.2 billion.
Despite a decrease in sales due to the impact of selling prices, net sales for Q3 cumulatively totaled JPY143.4 billion, due to foreign currency conversion resulting from a weaker yen, the impact of material prices following increases in the price of stamped steel and other materials, and an increase in the volume of materials due to a recovery in production overseas.
Operating income for Q3 was JPY5.6 billion due to the impact of selling prices, increased cost burdens such as labor costs resulting from changes in production plans, and the significant impact of increased expenses due to higher material and energy prices.
Net sales of the stamping and molding business were JPY102.7 billion due to the impact of yen depreciation, material prices, and increased product volume, and operating income was JPY2 billion due to increased expenses, labor costs, and other factors at the US stamping site.
Net sales in the valve business were JPY40.5 billion due to the significant impact of yen depreciation, and operating income was JPY3.6 billion despite our efforts to promote price pass-through to compensate for higher material and other costs.
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Pacific Industrial Co. Ltd. published this content on 08 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 February 2023 07:03:10 UTC.
PACIFIC INDUSTRIAL CO., LTD. is a Japan-based company mainly engaged in the manufacture and sale of press and resin products, and valve products. The Company operates through two business segments. The Press and Resin Product segment is mainly engaged in the manufacture and sale of wheel caps, engine covers, hood trunk hinges, oil pans and other press and resin products for automobile, as well as press molds, resin molds and other mold products. The Valve Product segment is mainly engaged in the manufacture and sale of tire valves, valve core products, air conditioning valves and other valve products, microcomputer control equipment and other electronic machine products, compressor related products, as well as tire pressure monitoring system (TPMS) products. The Other segment is mainly engaged in the processing of information by computer, the development and sale of software, and the provision of insurance agency service.
PACIFIC INDUSTRIAL CO., LTD. 
