Full Year 2019 THK Co Ltd Earnings Presentation Transcript
I am Akihiro Teramachi, President and CEO of THK. Let me first share with you the overview of the results for the fiscal year ended in December 2019. Consolidated net sales was down by 21.4% year-on-year to JPY 277.9 billion. The U.S.-China trade friction prompted companies to curb their investment worldwide, particularly in China. Amid the general trend of order and inventory adjustments, orders remained at low level across different regions.
The previous CapEx growth in the semiconductor-related industry and accelerating trend for automation and robotization led to significant growth in our order backlog, which was steadily converted to sales. However, given the more recent weakness in the market, net sales were down. Subsequently, the level of order backlog is nearly close to the normal level,
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