I would like to express our sincere gratitude for your continued support for our business practices.
During the fiscal year under review, the world economy as a whole continued to show a solid recovery, but the outlook remained uncertain due to the ongoing war in Ukraine, the continuing conflicts in the Middle East, the slowdown in the Chinese economy, concerns about tariffs and other policies of the new US administration, and other global unrest.
In the automotive industry, where the Group operates, sales in North America remained strong, but global production of the Japanese automobile manufacturers was lower than in the previous year due partly to further expansion of EV market share led by local manufacturers in China, sluggish demand in Southeast Asia, and production cuts by some manufactures in Japan.
Given these circumstances, we have extended by two years the four-year Medium-Term Business Plan: Mission 2025, which began two fiscal years ago, and renamed it the Medium-Term Business plan: Mission 2025+2. Under the revised plan, we have made continued efforts to promote measures that will contribute to the “Pursuit of Economic Value” by further enhancing our four basic functions—development, manufacturing, procurement, and global functions— and to the “Creation of Social Value” in the areas of the environment, society, and governance.
As a result of these efforts to strengthen the business foundation, our consolidated net sales increased thanks to new orders in Japan and North America, the positive impact of yen depreciation, and other favorable factors, despite production cutbacks by passenger car manufacturers in Japan and those of passenger and commercial vehicles in China and ASEAN countries. Our operating income also increased due to factors including an improvement in the gross profit margin resulting from increased sales and price revisions, despite soaring purchase and raw material prices as well as operating loss recorded in the China business segment.
The new fiscal year is important as we have entered the second half of the Mid-Term Management Plan: Mission 2025+2. The business environment surrounding us is changing drastically, but we, the management and staff of the Group, are committed to continued and concerted efforts toward achieving our Mission Statement of “generating additional value to further establish Ohashi Technica as a trusted company to our global customers.”
In closing, we have the great appreciation for all of our shareholders for their continued support and valuable suggestions as we move forward.
June 2025
Masaya Hirose
President and CEO
Ohashi Technica,Inc.
