NOK Corp. (TYO:7240) is advancing negotiations with its customers to seek agreement on a price hike for its seal products. This would include the company’s oil seals, O-rings, gaskets and more. A leading Japanese manufacturer of seal products, NOK announced back on Sept. 6 that it would be increasing prices on its seal products by up to 20 percent starting...
NOK Corp. (TYO:7240) recently announced that it has decided to raise prices on products sold via domestic distributors to the likes of the general industrial machinery industry. The price revision here is set to apply to oil seals, O-rings and other such seal products listed in NOK’s catalog, albeit with a number of exceptions. Set to come into effect starting...
NOK Corp. (TYO:7240) President Kiyoshi Doi recently commented on the solid performance of his company’s seal business for the fiscal year ended March 31, 2018. Orders have been higher than expected, he said, leaving the company operating at full capacity – and so, he continued, NOK will make major investments this fiscal year to expand its facilities. Doi explained that...
Mitsubishi Cable Industries Ltd., a subsidiary of Mitsubishi Materials Corp. (TYO:5711), has found that more customers could be affected by the company’s recently shipped non-conforming seal materials. Over a two-and-a-half-year period spanning from April 1, 2015 to Sept. 30, 2017, the Japanese manufacturer shipped non-conforming seal materials for applications such as packing and gaskets. The failure has been attributed to...
NOK Corp. (TYO:7240) has released its results for the second quarter of fiscal 2017. The major oil seals manufacturer posted net sales of 357.04 billion yen ($3.14 billion), up 6.7 percent year-on-year; operating income of 20.1 billion yen, up 77 percent; ordinary income of 26.6 billion yen, up 175.7 percent; and quarterly net profit of 16.25 billion yen, up 246.1...
Forbo Siegling Japan Ltd.’s belt and seal businesses have posted solid sales for the first half (January–June) of 2017. The company’s belt business saw sales increase more than 5 percent year-over-year on the back of sales growth in the logistics and food industries. Sales for the logistics sector were particularly robust, backed by increased demand both from logistics centers that...
