The Precision Division manufactures and sells precision parts and components and high precision molds that are used to assemble optical devices, as well as office and telecommunications equipment, automobiles, clocks and other products.
Electronic enclosure designing, circuit designing, injection mold designing and manufacturing, press mold designing and manufacturing, lathing and grinding product manufacturing, engineering plastic and other plastic molding, pressed parts manufacturing and other related work are done in-house in a consistent way, allowing us to maintain high quality and reliability, while meeting a variety of customer demand, such as the need for cost reduction.
In 2009, we also acquired a medical instrument manufacturing license, allowing us to manufacture all medical instruments from medical parts to finished products. It is required to ensure a high level of quality and safety when manufacturing medical instruments. Accordingly, we obtained ISO 13485 certification in 2010. Based on an elevated level of quality management, we provide customers with an even higher level of satisfaction and peace of mind.
Under these circumstances, the division increased sales on a year-on-year basis, mainly reflecting the development of new business customers and enhancing its presence in Vietnam and China. Operating income also increased, reflecting continuous efforts to reduce the cost of sales.
As a result, the business segment reported net sales of 6,957 million yen for the consolidated fiscal year ended March 31, 2011, up 8.8% from 6,393 million yen for the fiscal year ended March 31, 2010. Operating income for the period was 449 million yen, up 40.1% from 320 million yen a year earlier.