Net sales: ¥194.3 billion (up 8.1% year on year ; vs target: up 8.0%)
Record-high level
Increase in domestic sales, mainly of water heaters; higher overseas sales thanks to foreign currency translation despite lower sales in the United States, China, and other markets
Operating income: ¥19.0 billion (down 5.1% year on year ; vs target: up 36.3%)
Decrease due to higher raw material prices and logistics costs and increased expenses associated with operation
of new plant in the United States
[Operating income to net sales ratio:9.8%]
Ordinary income: ¥22.2 billion (up 2.4% year on year, vs target: up 48.1%)
Increase thanks to foreign exchange gain despite decrease in operating income
Record-high level
[Ordinary income to net sales ratio:11.4%]
Net income attributable to owners of the parent company: ¥13.3 billion
(up 1.0% year on year, vs target: up 48.7%)
Record-high level
[Net income to net sales ratio: 6.9%]
Sales and income in Japan up significantly due to an increased production to eliminate supply delays
Both sales and income well above initial forecasts; full-year forecasts now revised
Rinnai Corporation published this content on 04 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 November 2022 08:18:04 UTC.
RINNAI CORPORATION is a Japan-based company engaged in the manufacture and sale of heating appliances and components. The products and components are manufactured by the company and affiliated companies. In the domestic market, the Company sells directly to customers such as city gas companies, propane fuel sales companies, housing equipment manufacturers, house manufacturers, pipe building material sales companies. The Company manufactures and sells at overseas subsidiaries and affiliates. The Company operates in six businesses, including Japan, the United States, Australia, China, Korea, and Indonesia.