Are we on the way toward a full-fledged recovery in demand? As rubber and plastic product manufacturers continue to announce their first half (April-September) earnings results for the fiscal year ending March 31, 2023, a recovery trend becomes visible in the automobile industry, the main source of demand. With the global economic outlook uncertain, it remains to be seen whether...
NOK, a leading manufacturer of O-rings, announced upward revisions to its second half and full-year earnings forecasts. According to the announcement, the company sees its second half sales forecast to remain largely unchanged from the previous forecast, but expects operating income to increase due to foreign exchange fluctuations and the passing on of selling prices following the sharp rise in...
NOK is set to expand facilities to manufacture anti-vibration and soundproofing products for electric vehicles used around electric power steering (EPS), gears, and brakes at its Tottori Plant in Japan. The move will take place over a three-year period from fiscal 2021 to 2023 and aims to enhance the company’s response to the electrification of automobiles. The investment amount is...
NOK’s results for the first quarter of the fiscal year ending March 31, 2023 (April-June 2022) showed sales of 161.031 billion yen ($1.193 billion), up 2.7 percent year-on-year; operating loss of 1.394 billion yen (versus 6.882 billion yen profit in the same period last year); ordinary income of 4.941 billion yen, down 54.6 percent; and net income of 2.053 billion...
NOK has completed its plans to boost production capacity for O-rings at its Vietnamese plant in Bien Hoa, Dong Nai. CEO Masao Tsuru and other NOK executives visited the plant on July 25 to mark the occasion. With an investment of approximately 3.5 billion yen ($26.78 million), NOK has increased its production space at the Vietnamese plant by around 40...
NOK Corp. (TYO:7240) is advancing negotiations with its customers to seek agreement on a price hike for its seal products. This would include the company’s oil seals, O-rings, gaskets and more. A leading Japanese manufacturer of seal products, NOK announced back on Sept. 6 that it would be increasing prices on its seal products by up to 20 percent starting...
