Revenue increased YoY due to FX impact, regardless of unfavorable OEM production volume caused by the semiconductor shortage more than expected.
Operating profit decreased YoY due to the impacts of external environment such as the production decreases, higher raw material prices and increased logistics costs, despite structural reforms proceeding as planned.
The forecast of Revenue and Operating profit for FYE2023 have been revised downward to 4,350 billion JPY and 90 billion JPY.
We will keep accelerating our activities to strengthen our structure through electrification and the supply chain even if the current business environment continues to be severe, due to semiconductor shortages and higher raw material prices.
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Aisin Corporation published this content on 03 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 February 2023 04:07:02 UTC.
Aisin Corp is a Japan-based company mainly engaged in the manufacture and sale of automotive parts. It manufactures and sells automotive parts through five segments, including Japan, North America, Europe, China, and Association of South-East Asian Nations (ASEAN) & India. The Japan segment also manufactures and sells energy solution-related equipment. Automotive parts include powertrain-related parts such as automatic transmissions (AT), and manual transmissions (MT), driving safety-related parts such as brake master cylinders, and disc brakes, body-related parts such as power sliding door systems, power back door systems, and sunroofs, and other connected and sharing solutions (CSS)-related parts such as car navigation systems. The energy solution-related products include gas heat pump air conditioners (GHP), cogeneration systems, shower toilets, home renovations, construction and civil engineering, and petroleum sales. The Company is also engaged in the automotive parts business.