Tokyo – Toyoda Gosei has seen a significant rebound in sales and profits over the three months to end of June as markets recover from the Covid-19 slowdown.
Operating profit for the first quarter came in at Yen11.2 billion (€86 million), up from a loss of Yen9.8 billion reported in the same quarter last year, Toyoda Gosei announced 2 Aug.
Sales for the first quarter of the 2022 fiscal year stood at Yen203 billion, up 82.6% from last year.
Toyoda Gosei linked the increase in sales and profits to the recovery in automotive production following cutbacks due to the outbreak of Covid-19 last year.
The Japanese supplier noted that the strong gains in the Americas, China, Japan and Europe were achieved despite a global shortage of semiconductors.