In Q1 of this fiscal year, the effects of the semiconductor shortage that has persisted since the year before last have eased, and production activities were more stable than we had expected at the beginning of the period. The Group's net sales increased 10% YoY to JPY49.3 billion, a record high for Q1, due to the recovery of automobile production and the depreciation of the yen.
Operating income was JPY3.1 billion due to an increase in sales volume. Ordinary income increased by JPY1.3 billion to JPY5.2 billion, and net income increased by JPY1 billion to JPY3.9 billion from the previous year, both record highs for Q1, mainly due to foreign exchange gains from yen depreciation.
Net sales increased JPY4.8 billion YoY to JPY49.3 billion, mainly due to an increase in sales volume and the positive impact of foreign exchange rates resulting from the continued depreciation of the yen, despite the negative impact of JPY7.2 billion due to the impact of customer-received steel materials for stamping.
Operating income increased JPY1.4 billion YoY to JPY3.1 billion, mainly due to an increase in sales volume and promotion of cost improvement, despite the negative impact of higher labor and expenses due to increased sales volume and soaring material prices.
In the stamping and plastic molding business, sales increased 13% YoY to JPY35.3 billion and operating income increased JPY1.7 billion to JPY2.2 billion due to an increase in sales volume.
In the valve business, volume remained at the same level as the previous year, but sales increased by 4% to JPY13.9 billion due to the impact of the weaker yen. Operating income decreased by JPY0.2 billion to JPY0.9 billion due to the impact of soaring material prices.
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Pacific Industrial Co. Ltd. published this content on 11 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2023 05:21:02 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. 
