Firstly I would like to express
sincere gratitude for your support to
Nippon Piston Ring (NPR) group.
Last year's Japanese economy was
under difficult circumstances such as
sluggish personal consumption,
worsening of the employment
environment and rapid
yen's-appreciation, but its recovery
is being viewed in production
activities that stagnated due to
influence of the earthquake
disaster.In the world economy
business condition as a whole showed
gradual recovery owing to the firm
progress of newly industrializing
countries such as India, while there
still remain risks of business
stagnation such as staying at high
unemployment rate in Europe and the
US and financial anxiety in European
countries.
In the automobile industry that NPR
group is involved in, in the first
half of fiscal 2011 domestic
production was 3.9 million units
resulted in 18.5% decrease
year-on-year because of influence of
the earthquake.Domestic sales were
1.93 million units resulted in 23.7%
decrease and export was 1.98 million
units 16.7% decrease year-on-year
respectively.
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