Business OverviewIndustrial Furnace and Related Products DivisionBusiness Results Overview and OutlookIn 2018, net sales rose by 66.7%, year on year to ¥11,371 million, and operating income rose by 126.7%, to ¥3,043 million. The main products in this division are industrial furnaces and heating elements. Robust demand for these products among glass manufacturers and manufacturers of multi-layer ceramic capacitors for automobiles and industrial components was a key driver of the division’s higher sales and earnings. Growth in markets for automotive applications and lithium-ion-battery materials is expected to continue. We believe an expansion of production capacity will be needed to meet the growing demand. As we work to expand our operations, we will also focus on securing human resources, increasing sales of newly developed furnaces, cutting costs for EREMA heating elements, and making a full-scale effort to enter the field of battery materials.2019201820176,8231,34211,3713,04314,1003,60008,0004,00012,00016,00004,0002,0006,0008,000forecastOperating incomeNet sales(Year)(Millions of yen)(Millions of yen)Business results and forecast* The 2019 operating income forecast does not reflect internal adjustments.Recorded healthy sales of multi-layer ceramic capacitors used in automobiles and industrial components. The production platform will be strengthened to capture market growth.Akihiko Sato Representative Director and PresidentTokai Konetsu Kogyo Co., Ltd. 28TOKAI CARBON ANNUAL REPORT 2018
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