OSG achieves record sales

On February 17, 2018, OSG held its 105th annual general meeting of shareholders at the Global Technology Center in Toyokawa City, Aichi Prefecture. Approximately 150 shareholders attended the meeting. As usual, the meeting was open to the press, with the aim of being an open meeting.  Annual net sales for the fiscal year ended November 2017 were 120,198 million yen, up 13.9% from the previous fiscal year and a record high.

Operating income increased 4.9% to 19,137 million yen, and net income increased 38.1% to 13,993 million yen. Domestic automobile-related industries remained steady, as did the economic recovery in China and aircraft-related industries in North America. In the fiscal year ending November 2018, the Company plans to expand its “A Brand” flagship product line and strengthen its overseas production and sales organization to achieve sales of 130 billion yen and operating income of 22 billion yen.

In addition, a new personnel system was established to clarify the supervisory function of directors and the business execution system of executive officers. The total number of directors is 7, consisting of President Norio Ishikawa and 6 outside directors. As a result, “the company has become more shareholder-oriented than ever before,” said President Ishikawa (=photo).