NGK Q3 Report 2022
Net sales in the nine months increased 11.6% year-on-year to ¥415,081 million. While the shipments of automotive-related products decreased, the positive effect of the yen depreciation and shipments of components for semiconductor manufacturing equipment contributed to increase net sales. Despite the positive effect of the depreciation of the yen, operating income decreased 10.8% year on year to ¥57,589 million due to the impact of rising labor costs and soaring raw material and fuel prices in addition to the decline in the shipments of automotive-related products. Ordinary income decreased 11.3% year on year to ¥56,227 million, due to the decrease of operating income and the impact of a loss on liquidation of subsidiary. Net income attributable to owners of the parent increased 11.4% year on year to ¥51,636 million, mainly due to the reversal of the estimated amount that had been recorded as a result of the completion of tax audits for the fiscal year ended March 2016 and thereafter in addition to the income taxes-refund (please refer to “2. Consolidated Financial Statements and Notes, (3) Notes to Consolidated Financial Statements, (Other Notes), (Consolidated Statement of Income)” on page 9 of the Appendix.).
By segment, net sales increased 8.6% year on year in the Environment Business to ¥231,978 million, and operating income decreased 19.8% year on year to ¥40,089 million. In the Digital Society Business, net sales increased 17.7% year on year to ¥130,222 million. Operating income increased 21.8% year on year to ¥18,695 million. In the Energy & Industry Business, net sales increased 10.6% year on year to ¥54,719 billion and operating loss was ¥1,208 million (operating loss of ¥828 million in the same period of the previous fiscal year).
Effective from the first quarter of the current fiscal year, the reportable segments, which were the Energy Infrastructure Business, Ceramics Business, Electronics Business, and Process Technology Business, were changed to the Environment Business, DigitalSociety Business, and Energy & Industry Business due to the organizational change. Year-on-year figures for each segment were calculated after adjusting the figures for the same period of the previous fiscal year to the revised segment classification.
