Q2 2019 THK Co Ltd Earnings Presentation Transcript

Aug 08, 2019 / NTS GMT

Transcript

Akihiro Teramachi

THK Co., Ltd. - CEO, President & Director

I am Akihiro Teramachi, President and CEO of THK. Today I'll cover the overview of the financial results for the first half of fiscal '19, our major measures and financial forecast for fiscal '19.

Let me first share with you the overview of the results for the first half of fiscal year ending in December 2019.

Consolidated net sales was down by 16.9% year-on-year to JPY 149.1 billion. One factor that I should mention about the sales decline is that there was a change in the U.S. GAAP rule that impacted our Automotive & Transportation business in North America. As we had to take out the sales that was previously generated with the buy/sell transactions of raw materials, this change impacted the sales negatively by JPY 2.8 billion. If we adjusted for this one-off item, the effective

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