TOKYO – Omron Corp. reported net sales for the nine months ended Dec. 31 decreased 10.6% year-over-year to 499 million yen. Operating income fell 61.4% to 16.7 million yen during that time. Earnings before taxes fell 66.5% to 14,740 million yen, and net income was down 69% to 9.1 million yen.

The company is forming a new division, headed by president and CEO Hisao Sakuta, responsible for ensuring that emergency measures and structural reforms spearheaded by the head offices are swiftly and steadily implemented. Those steps include withdrawing from unprofitable businesses, suspend large-scale investments, and implement further cost-cutting in order to reduce costs by 40 billion yen. The company will restructure its three control businesses (industrial automation, electronic components, and automotive electronic components) and consolidate global production bases. 

US$1 = JPY 102.

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