September 23, 2019
The presence of CITIZEN MACHINERY is gaining in Citizen Watch group companies. Citizen Watch group companies announced the financial statements on July 4, 2019. Citizen Watch group changed the position of the machine tool business to the second core segment after watches.
Toshihiko Sato, president of Citizen Watch said, “the machine tool industry has recently dropped orders in 2019, but we want to invest management resources and grow steadily to surpass sales from 2017 to 2018 at the next peak.” CITIZEN MACHINERY accounted for 77.1 billion yen of the total group sales of 321.7 billion yen in the fiscal year 2019 ending March. The operating profit was 13 billion yen, out of 22.4 billion yen as a whole, and high profitability was remarkable.
CITIZEN MACHINERY announced an increase in production of multi-tasking automatic lathe MC20 prior to announcing financial statements. The production will be transferred from Karuizawa headquarters in Nagano Prefecture to Saku Works, aiming for 100 units per year in 2021.
The plant will be transferred from the Karuizawa Headquarters Karuizawa Plant in Nagano Prefecture to Saku Works to achieve an annual production of 100 units by 2021. The MC20 is a flagship and can respond a wide range of machining.
Source: SEISANZAI MARKETING Magazine August 2019 issue
This article was translated by “T-4OO”.
September 4, 2019