NGK Full-Year Report 2022
During the fiscal year under review, the Japanese economy was affected primarily by the impact of soaring prices around the world due to the aggravation of the situation in Ukraine but showed signs of a gradual recovery as the normalization of economic and social activities advanced as people coexisted with COVID-19. Overseas, although some countries resumed economic activities in stages and the
economy recovered gradually, falling demand and global economic downturn have become noticeable due to the monetary tightening.
Under such circumstances, the Environment Business saw almost the same shipments of automotive-related products with the previous fiscal year against the backdrop of the almost flat global sales quantity of light-vehicles and trucks despite restrictions on economic activities in China. In the Digital Society Business, shipments of components for semiconductor manufacturing equipment and electronic
components, such as piezoceramic actuators for HDDs, declined primarily due to reduced investments in semiconductors and data centers. In the Energy & Industry Business, shipments mainly of insulators and industrial heating systems increased.
As a result, net sales for the fiscal year increased 9.6% year on year to ¥559,240 million thanks to the positive effect of the weak yen despite a decrease in the volumes of components for semiconductor manufacturing equipment and others. In terms of income, operating income fell 20.1% year-on-year to ¥66,761 million due to the impact of soaring labor costs, raw material and fuel prices associated with
inflation, in addition to a decline in volumes, although there was the positive effect of the weak yen. Ordinary income decreased by 23.6% year-on-year to ¥65,887 million due to the lower operating income and loss on liquidation of subsidiary and associate. Net income attributable to owners of the parent decreased 22.3% to ¥55,048 million year-on-year mainly due to the recording of impairment loss
associated with the optimization of production capacity in the Environment Business although income taxes-refund, etc. were recorded.
