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President's Message

Improve corporate value through “manufacturing that adapts well to change”
~Establish the foundation for Nippon Piston Ring to prosper for 100 years,
through marketing and innovation~

President and Representative Director Akira Yamamoto

Let me express my thanks to all of you, our shareholders and investors, for the special support you continually give to the NPR Group.

In fiscal 2018, the Japanese economy continued its gentle recovery, with improvements in employment and personal income supporting a favorable turnaround in individual consumption. The world economy lacked strength due to the slowdown of the Chinese economy, but still continued to grow gradually on the whole thanks to the strong U.S. economy, etc.

In the automobile industry where our Group is involved, demand in overseas markets continued grow strongly, especially in emerging countries. However, demand decreased in China, so that the number of automobiles produced in the world fell below the predictions.

Under these conditions, our Group was able to expand its business with domestic and overseas automobile manufacturers, so that our sales increased 2.0% over last year to 57.066 billion yen, hitting a record high.

As for profit and loss, despite the effect of increased production and cost reduction, our operating income decreased 12.1% over last year to 3.42 billion yen due to rising cost of raw materials, etc. Ordinary income fell 19.7% over last year to 3.363 billion yen due to foreign exchange losses, and net income attributable to owners of parent fell 17.4% over last year to 1.888 billion yen.

In fiscal 2019, the overall global economy is expected to recover at a gradual pace. However, there are still risks of an economic downturn such as slowing of the Chinese economy, and a sense of uncertainty about the future remains. Accordingly, anticipating the impact of the strong yen etc., we predict net sales of 56.0 billion yen, operating income of 2.6 billion yen, ordinary income of 2.6 billion yen, and net income attributable to owners of parent of 1.6 billion yen. We shall continue our efforts to increase sales both in Japan and overseas and reduce cost, and to meet expectations of all our shareholders and investors.

In our seventh mid-term business plan which started in April of last year and will end in fiscal 2020, under the basic policy, Improve corporate value through “manufacturing that adapts well to change” ~Establish the foundation for Nippon Piston Ring to prosper for 100 years, through marketing and innovation~, we are implementing the following main initiatives.

[Targets for fiscal 2020]

Net Sales 58.0 billion yen or more
Operating margin 7.5% or more

[Main initiatives]

  • (1) Increase sales that is oriented to making and using technical proposals,
    both domestically and abroad
  • (2) Strive for innovative manufacturing
  • (3) Strengthen new product development
  • (4) Strive for the world’s highest quality, by strengthening human resources development
  • (5) Continue to promote Corporate Social Responsibility activities

We shall continue our efforts to increase the value of our companies. I humbly request that you give us ever greater understanding and support.

Akira Yamamoto
President

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