Now let's take a look at the results by segment, starting with the PT 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.
First quarter net sales decreased 2.4% quarter on quarter to total 47.9 billion yen.
Sales of ball bearings decreased 3.0% quarter on quarter to total 34.3 billion yen.
The monthly external shipment volume was down 9.2% quarter on quarter for an average of 187 million units. This is due to a slowdown in the markets, mainly the data center market.
Sales of rod-ends and fasteners, totaling 9.7 billion yen, were down 0.7% over the previous quarter.
Sales of pivot assemblies decreased 1.8% quarter on quarter to total 4.0 billion yen.
Operating income for the quarter totaled 8.2 billion yen, and the operating margin was 17.1%.
On a quarter on quarter basis, operating income decreased 5.4% while the operating margin dropped 0.6 percentage points.
Compared to the results for the fourth quarter of the fiscal year ended March 31, 2023, excluding special factors such as foreign exchange forward contracts and other restructuring costs, operating income for the first quarter of the fiscal year ending March 31, 2024 decreased 19.6% quarter on quarter, and the operating margin dropped 3.7 percentage points.
Looking at the results by product quarter on quarter, we see that operating income for ball bearings decreased, pivot assemblies increased, rod-ends and fasteners remained unchanged.
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