1. Home
  2. Investor Relations
  3. Financial Results Highlights

Financial Results Highlights

(Fiscal 2022)


Consolidated net sales for the year amounted to ¥366,185 million, up 6.3% from the previous year. Operating income declined 11.9%, to ¥35,864 million, and ordinary income decreased 7.9%, to ¥39,060 million. Net income attributable to owners of the parent company fell 13.9%, to ¥23,748 million.

Financial Results

Results by Geographical Segment

  • Japan

    Although sales of mainstay water heaters, built-in hobs (stovetops), and gas clothes dryers, a growth item, were strong at the beginning of the period, overall sales declined significantly as tight procurement conditions for some parts since October 2021 had a negative impact on production. Due also to soaring raw material prices and logistics costs, sales in Japan decreased 6.3% year on year, to ¥171,533 million, and operating income fell 28.9%, to ¥17,439 million.

  • United States

    In the United States, we enjoyed an increase in sales thanks to accelerating demand for tankless water heaters, as well as ongoing healthy conditions in the housing market. This was despite turmoil in international logistics and tight parts-procurement conditions, which affected supplies from Japan. As a result, sales increased 21.0%, to ¥44,752 million. Due to higher procurement costs and increased labor costs for operating the new plant, however, operating income slipped 3.2%, to ¥2,108 million.

  • Australia

    In Australia, sales of room heaters remained firm as COVID-19 prompted people to spend more time at home. This was despite tight parts-procurement conditions, which had an impact on supplies of water heaters from Japan. We also made progress in improving productivity in the wake of soaring raw material prices and logistics costs. As a result, sales rose 6.0%, to ¥25,764 million, and operating income surged 77.7%, to ¥1,620 million.

  • China

    In addition to strong Internet sales, we enjoyed a recovery in sales at physical stores, which had declined in the previous fiscal year due to restrictions on activity, leading to increases in sales of mainstay water heaters and boilers. To address soaring raw material prices, we sought to reduce costs and expand sales of high-value-added products. As a result, sales in China climbed 28.2% year-on-year, to ¥52,778 million, and operating income edged up 1.3%, to ¥6,752 million.

  • South Korea

    In South Korea, we posted growth in sales of high-efficiency boilers in response to stricter environmental regulations. We also made good progress in improving earnings through cost reductions and other activities. Accordingly, sales increased 13.3%, to ¥32,124 million, and operating income surged 636.7%, to ¥1,041 million.

  • Indonesia

    In Indonesia, sales of mainstay tabletop stoves weakened due to restrictions on social activities caused by the spread of COVID-19, but sales of high-priced built-in hobs (stovetops) and range hoods remained firm thanks to growing demand for home cooking and our expanded product lineup, in addition to property orders. As a result, sales rose 20.8%, to ¥13,587 million, and operating income climbed 16.6%, to ¥2,826 million.

  • セグメント売上高
  • 売上高、売上高営業利益率
  • 経常利益、当期純利益
  • 総資産、純資産、自己資本比率