On the 27th of July, Koito Manufacturing Co., Ltd., a major automobile lamp company, revised its earnings forecast for the fiscal year ending March 2023 downward, reducing consolidated operating profit to 59 billion yen, up 10.4% from the previous year. Previously, it was expected to be 67 billion yen. Automobile production is declining due to the shortage of semiconductors and the lockdown (city blockage) in Shanghai, China, and the price of raw materials will be heavy.


The assumed exchange rate for the full year has been revised to 126.6 yen per dollar (115 yen at the beginning) and 18.8 yen per yuan (18 yen at the beginning).


Consolidated operating profit for the April-June period announced today was 6.3 billion yen, down 58.9% from the same period of the previous year. The adjustment of car production echoed.