NOK posts sales and profits gains

Tokyo –  NOK Corp. has posted a 17-percent year-on-year increase in net sales to Yen693,689 million (€5,167 million), the Japanese seals manufacturer said in a financial results statement for 2014, ended on 31 March 2015.

The company’s operating income rose to 67,085 million yen, up 105.9 percent, as its operations continued to perform well locally and internationally.

With regard to NOK's operating environment during the fiscal year, the US economy remained robust, while the Chinese economy maintained stability despite a slowdown in growth.

In the automotive industry, the company said that recovery was slow locally, resulting in a drop in demand.

Demand decreased in Thailand due to the termination of the car purchase subsidy scheme as well as to the impact of political unrest, while it remained “robust” in North America, said the company.

Sales at the company’s seals segment rose by 4.2 percent year on year, at Yen296,875 million, while operating income totalled Yen3,487 million, up 20.8 percent year on year.

The company expects its market in Japan to recover gradually while its overseas environment is likely to continue to be unpredictable due to strong uncertainties in the Chinese economy and sluggish growth of emerging economies.

In the seal business, the company expects vehicle production to increase in the North American market despite an expected drop in demand in Japan.