SNT CORPORATION Business report FY2008
(In millions JPY)
|FY2008||FY2007|| Rate of
|Sales||18,168||20,994||9.3|| Product demand in its major markets, namely the automotive and construction markets, declined; as did sales, due to the financial crisis that originated in the USA.
Income also decreased, partly because of a loss incurred when revaluing investments in securities, due to steep falls in their share prices; and a reversal of deferred tax assets.
|Forged products business|
Sales and income declined, as orders decreased due to reductions in production volume in the automotive and construction industries.
Highlights by region
Reductions in production volume by both auto manufacturers and industrial machinery makers affected the Company's forging business. In addition, its construction machinery business was also affected by a decrease in orders. As a result, sales decreased by 7.7% year-on-year to 13,532 million yen and operating income by 31.6% to 1,153 million yen.
Due to local political turmoil in the country, an economic slowdown, and the appreciation of the yen, sales declined 26.7% year-on-year to 4,636 million yen and operating income by 42.8% to 671 million yen.
|(in millions of JPY)||FY2008||FY2007||FY2006|
|Forged products business||-||1,125||990|
|New Facilities||(in millions of JPY)|
|Company Name||Type of facility|| Planned
|Construction start||Planned completion||Production Capacity after completion|
(Aichi Pref., Japan)
|Production facilities for forged products||620||2009.1||2009.10||Max 900T/Monthly
(based on the stamping weight)