Now let's take a look at the results by segment, starting with machined components business segment.
On the left is a graph indicating quarterly net sales trends and on the right is a graph with a bar chart quarterly operating income trends along with a line chart for operating margins.
Third quarter net sales decreased 2.7% quarter on quarter to total 43.1 billion yen.
Ball bearing sales dipped 3.0% quarter on quarter to total 30.9 billion yen. The monthly external shipment volume was down 3.7% quarter on quarter for an average of 232 million units due primarily to a slowdown in sales to the office automation and home electronics. Sales of aircraft bearings remained sluggish due to the stagnant market.
Sales of rod-ends and fasteners, totaling 6.4 billion yen, were down 1.5% from the previous quarter.
Sales of pivot assemblies decreased 2.2% quarter on quarter to total 5.8 billion yen.
Operating income for the quarter totaled 11.6 billion yen, and the operating margin remained up, at 27.0%. Operating income decreased 2.4% quarter on quarter while the operating margin improved 0.1 percentage points. If the aforementioned special factor (i.e., the sharp rise in electricity prices in Singapore) were excluded, operating income would have totaled 12.0 billion yen, and the operating margin would have stood at 27.9%.
Looking at the results by product, we see that operating income for ball bearings and pivot assemblies decreased quarter on quarter while operating income for rod-ends and fasteners was up compared with last quarter.
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