Shima Seiki Mfg : Consolidated Results for First Half of FY2022
November 24, 2022 at 11:54 pm EST
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Consolidated Results for First Half of FY 2022
SHIMA SEIKI MFG., LTD.
November 2022
Summary of Operating Results for Second Quarter of the Fiscal Year Ending March 31, 2023
FY 2022
FY 2021
FY 2021
(Terms: Million yen)
2Q
2Q
Net Sales
１７，９１８
１５，８１４
３０，９９８
Operating
（４３５）
（１，３５５）
（４，２６８）
Income
Ordinary
（２０７）
（８４４）
（３，４００）
Income
Net income
（５１１）
（１，０６８）
（３，５８９）
Attributable to owners
of the parent
*Operating income for the fiscal year ended March 31, 2022, represents the figure after the change in the presentation category.
Exchange rate (JPY)
FY 2022
FY 2021
2Q
2Q
１４４．８１
１１１．９２
Exchange rate at the end of the
USD/JPY
period (Upper level)
１３１．８７
１０９．９８
Average exchange rate used for
translation of sales (Lower level)
EUR/JPY
１４２．３２
１２９．８６
１３８．４１
１３１．１６
-1-
Highlights
Operational Review
Flat knitting machines 】
・Asia
In China, the impact of the lockdown in urban areas according to the zero COVID policy weakened the appetite for capital spending. This resulted in slowing the introduction of the WHOLEGARMENT® flat knitting machines.
In regions, such as Bangladesh, where OEM is at the center of production, there were many inquiries about computerized flat knitting machines partially due to the recovery from the COVID-19 crisis, and capital spending remained steady.
European and Middle Eastern markets
In the Italian market, there was a growth in capital spending mainly in high-valued added computerized flat knitting machines as economic activities became active. Also, in Turkey and the East European areas, there were continuing many inquiries due to a strong appetite for capital spending.
Design systems 】
For the apparel design system SDS-ONE APEX4, its sales units increased because of increased sales of computerized flat knitting machines. In addition, the subscription service APEXFiz steadily increased agreements mainly in license agreements with large apparel manufacturers.
For the auto fabric cutting machine P-CAM, the demand recovered mainly in overseas markets.
【Globe knitting machines】
・After the start of this fiscal year, net sales of the machines decreased because of a round of capital spending by large manufacturers.
Income
・The gross profit margin recovered because of an improvement in capacity utilization of plants, and selling, general, and administrative expenses were controlled; consequently, operating income was -435 million yen, down from the same period of the previous fiscal year.
(The gross profit margin increased by 3.7 percentage points YoY to 38.1%)
-２-
Sales Composition by Segment 〔Consolidated〕(FY 2022 2Q)
Other
¥2,983 million
（16.7％）
Glove and Sock
Knitting Machines
¥436 million
（2.4％）
Flat Knitting
Machines
Total
17,918
Million yen
¥12,899 million
（72.0%）
Design System
¥1,599 million
（8.9%）
() is the sales composition ratio.
-３-
Sales and Operating Income Composition by Segment (FY 2022 2Q)
Net Sales
Comparison with
Operating
Comparison with
（Terms: million yen）
previous year (%)
income
previous year (%)
Flat Knitting
12,899
+23.1
1,939
+85.6
Machine
Design System
1,599
+22.0
354
-4.0
Glove and Sock
436
-72.8
9
-84.6
Knitting Machines
Other
2,983
+23.2
523
+128.3
Corporate
(3,263)
elimination
Total
17,918
+13.3
(435)
―
-４-
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Shima Seiki Mfg Ltd. published this content on 25 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 November 2022 04:53:07 UTC.
SHIMA SEIKI MFG., LTD. is a Japan-based company mainly engaged in the manufacture and sale of flat knitting equipment, design systems, gloves and socks knitting equipment. The Company operates in three business segments. The Flat Knitting Equipment segment is engaged in the manufacture and sale of computer flat knitting equipment and semi jacquard flat knitting equipment. The Design Systems Related segment is engaged in the manufacture and sale of computer design systems, as well as apparel computer-aided design (CAD) and computer-aided manufacturing (CAM) systems. The Gloves and Socks Knitting Equipment segment is engaged in the manufacture and sale of seamless gloves and socks knitting equipment. The Company is also engaged in the manufacture, sale and trading of textile materials, the planning, manufacture and sale of textile products, the operation of hotels, the manufacture and sale of knitting equipment and design system parts, as well as the repair and maintenance business.
SHIMA SEIKI MFG.,LTD. 