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The eBearing News
December 17, 2004
Nachi Projects Profits
Will Reach 13-Year High
copyright © 2004 eBearing Inc.
Nachi-Fujikoshi Corp. (Japan) announced it expects to report extremely strong sales and
group operating profits have for the fiscal year just ended November 30, 2004.
The company has not officially announced fiscal year results, but Japanese companies
very often report "expected" results that "apparently" reached particular levels,
more than a month in advance of formal financial results announcements.
If the results are reported as expected, they would be 30% ahead of 2003, and the company's
most profitable year since 1991.
For the year ended November 30, sales apparently were up 8% over 2003, hitting approximately
¥ 159 billion (USD $1.53 billion). If so, this would put Nachi far ahead of its forecasts and plans for 2006,
which called for an increase by then of only 7.6% over 2003.
Group operating profit apparently reached approximately ¥ 10 billion ($96.5 million)
for the fiscal year, sharply ahead of estimates.
Nachi said the sales growth is due in large part to strengthened demand for automotive bearings and
industrial bearings.
In addition to its bearing manufacturing, Nachi is a leading producer of diversified precision industrial
equipment and robotics. The company manufactures precision machinery, cutting tools, hydraulic equipment and
systems, robotics, precision machine tools, and steel. For example, Nachi is the worldwide market share
leader for both broaching machines and
broach tooling, at 22% and 20%, respectively. The Nachi group is made up of 47 operating divisions
worldwide, employing almost 5,700 people. Japan is home to 26 of those divisions.
The company said higher prices for raw materials, particularly steel and energy, compounded by
the strengthening yen, drove operating costs up by ¥1.6 billion.
Higher costs, however, were offset by the higher margins achieved by higher volume sales,
helped by company wide productivity improvements.
Nachi-Fujikoshi's formal fiscal year financial results are expected to be reported the third
week of January 2005.
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Copyrighted material; unauthorized reproduction prohibited.
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