The Koito consolidated results for fiscal 2020 (April 1, 2019 to March 31, 2020) decreased. Global automobile production volume decreased year on year due to the decreased production volume in North America, China, Asia, Europe, ASEAN countries and India.
In this climate, despite an increase in new orders in the mainstay automotive lighting equipment segment and a shift in automobile lamps to LED, the KOITO Group’s net sales for the fiscal 2020 decreased 3.1% year on year with anoperating income decreased 18.8% year on year
This was attributable to a decrease in sales caused by a decrease in automobile production volume and increased R&D expenses,
It is difficult to see the future such as normalization of economic situation and the timing of economic recovery. In the automobile industry, there is also undergoing tremendous impacts, such as a slump of demand for automobiles. At present, the business climate surrounding KOITO is extremely severe and unclear, due to the suspension of automobile production to prevent infections in various regions of the World.