Summary of the Consolidated
Business Results for FY 2004 (2)
Business results of FY 2004
- Both sales and operating income posted record highs
Sales increased 11%, operating income increased 47% and ordinary income increased 73%, year-on-year - Business results by business segment:
Industrial Machinery Bearings: Achieved double-digit operating income margin
Automotive Products: Demand increased but profits remained flat due to an increase in costs
Precision Machinery & Parts: Maintained stable profitability - ROE exceeded 11%
- Balance sheet reform:
Reduced interest-bearing debts by 39.3 billion yen - Increased dividends:
Increased from ¥6.5 per share for FY 2003 to ¥11.0 per share for FY 2004