Despite continuing challenging external environment, the consolidated financial results for FY2022 achieved profitability in all profit categories mainly due to the strengthening of our streamlining efforts, with net sales of 304.4 billion yen, operating income of 3.7 billion yen, ordinary income of 5.0 billion yen, and net income attributable to owners of parent of 2.4 billion yen. I believe this embodies the results of our Group's concerted efforts to reform our profitability structure.

We celebrated our 25th anniversary in April this year. We would like to once again express our gratitude to all our stakeholders who have supported us over the years.

In the 1990s, automobile manufacturers rapidly shifted production overseas, resulting in a significant decline in domestic production and intensified price competition as the domestic market shrank. This was a time when component manufacturers became increasingly aware that they would not be able to survive on their own in the near future. Under these circumstances, Yamakawa Industrial Co., Ltd. and Yamato Kogyo Co., Ltd. decided to merge for survival, and Unipres was established in 1998.

It was a challenging start for us as various problems piled up including a deficit recorded in the very first year of our foundation. However, it was this deficit that triggered "UPS (Unipres Production System) activities," which aimed to transform our corporate culture and still form a pillar of our management reform now. At the same time, we have worked to rebuild our domestic earnings base by consolidating production domestic sites and aggregating/transferring production facilities, and to expand our overseas production system. As a result, we have expanded our overseas production bases from three sites in three countries at the time of the foundation to 17 sites in nine countries and have grown to a global company with high profitability and strong competitiveness.

We have overcome all difficulties in the past by responding quickly and flexibly to changes in the business environment. In particular, in the four years from 2019, we faced the most critical situation since the foundation of Unipres as a result of significant production cutbacks by our customers mainly due to the impacts of the spread of COVID-19 and the increasingly severe semiconductor supply shortages. However, we have now regained an earnings structure that can steadily generate profits.

The 25th anniversary is just a milestone. The business environment will continue to be difficult to predict, but in order to realize our management philosophy of "Achieve Sustainability Management," we will strive to enhance not only our economic value but also our social value more than ever, and to become a company that can meet your expectations.

June, 2023

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Unipres Corporation published this content on 22 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 June 2023 08:30:09 UTC.