Revenues came in at $2.9 billion USD (316.3 billion Yen) from April 1, 2015 to March 2016, compared to $2.88 billion USD (313.9 billion Yen) for its automotive business.
“Automotive business revenues were similar to the previous year. Profitability improved however, with increased volumes and cost savings in Japan,” according to the report.
In Europe, light-vehicle sales were ahead of the previous year, with further growth in Western Europe indicating a sustainable market recovery. NSG also benefited from robust volumes in its AGR business in this region.
In Japan, OE revenues and profits for were both ahead of the previous year. NSG’s volumes for automotive glass increased even though light-vehicle sales fell after the implementation of revised eco-car tax exemption rules, according to the company.
“AGR profits were also ahead of the previous year [in Japan],” management said in the report.
In North America, cumulative OE local currency revenues were ahead of the previous year as market volumes continued to strengthen. However, NSG noted that its AGR revenues fell.
“In the rest of the world, weak market conditions persist in South America, with a significant decrease in light-vehicle sales in Brazil,” according to the report.