Despite the continuing impact of production cutbacks by our customers due to the global shortage of semiconductor supplies, the consolidated financial results for the second quarter of FY2022 were net sales of 133.1 billion yen, operating income of -2.7 billion yen, ordinary income of -1.4 billion yen, and net income attributable to owners of parent of -1.8 billion yen, due to the impact of exchange rates and other factors. These results show definite signs of improvement compared with the earnings of the previous fiscal year due to efforts we have undertaken to reform our profitability structure.
With respect to the full-year forecast for FY2022, net sales are expected to exceed our initial forecast due to the depreciation of the yen and the surge in raw material prices, despite the impact of reduced production volume resulting from the shortage of semiconductor supplies. On the other hand, although our streamlining efforts have achieved more than planned, operating income is expected to fall short of our initial forecast due to the impact of production cutbacks by our customers, soaring energy prices, sharp rises in labor costs overseas, and the impact of inflation. Ordinary income is expected to be in line with our initial forecast, due to the impact of foreign exchange effects caused by the global depreciation of the yen. Net income attributable to owners of parent is expected to surpass our initial forecast as a result of an expected decrease in tax expenses at some overseas locations.
As a result, we have revised our full-year financial results forecast for net sales, operating income and net income attributable to owners of parent, as these are expected to differ from the initial forecast.
Although the shortage of semiconductor supplies is showing signs of a turn around, the conditions moving forward remain uncertain and we continue to be concerned about the impact on earnings. Meanwhile, as we have completed launch of new-car components, we will promote activities to ensure that the benefits of mass production will be linked to profits. Furthermore, we will further strengthen our ongoing efforts to reform our profitability structure to achieve an earnings recovery.
As efforts to achieve a carbon neutral society gather momentum around the world, the automotive industry is now clearly moving toward electrification, particularly the shift to BEVs*.
The increased weight of the on-board battery and a limited cruising range are ongoing challenges for BEVs but we will address these issues by leveraging one of our core strengths, our expertise in the application and development of body-weight reduction technology using hot stamping and high tensile strength materials. In addition, we need to further strive to raise the level and speed of our product development and production-technology development so that we can effectively respond to society's changing needs.
We will all strive as one Global Unipres and further deepen UPS（Unipres Production System）Activities while promoting sustainability management to aim for sustainable growth by trying to build up a robust and flexible corporate structure that can be resistance to change.
Unipres Corporation published this content on 01 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 December 2022 00:13:04 UTC.
UNIPRES CORPORATION is a Japan-based company which is mainly engaged in the manufacturing and sale of press processing parts for automobiles. The Company operates in four business segments which are Japan segment, the Americas segment, Europe segment and Asia segment. The vehicle body press parts business is engaged in the manufacture and sale of vehicle body press parts. The transmission parts business is engaged in the manufacture and sale of transmission parts. The resin parts business is engaged in the manufacture and sale of resin parts. Other businesses include the design and construction of plants, as well as the provision of insurance agency and freight transportation services.
UNIPRES CORPORATION 
