2019 Results Summary2019 Results SummaryUnderpinned by demand for electric vehicles and communications devices, we recorded year-on-year increases in both revenue and earnings. With ongoing production increases and capital investments in the electronic component and battery material industries, which use industrial furnaces, we expect a continuation of solid results.The Friction Materials Division is slated for restructuring and steps will be taken to improve its profitability.In 2019, the Anode Materials Division saw an intensification of competition with Chinese products for automotive applications. To enhance its competitiveness, the division will focus in particular on developing next-generation products and boosting productivity, and will move forward with quality-enhancement measures.• Industrial furnaces: Ongoing capital investment in the information technology and energy-related industries• Ceramic heaters and other products: Lower demand from electronic component industries and Chinese companies due to U.S.-China trade friction• Friction materials: Lower sales due to exit from the four-wheel automotive market. Lower demand for products used in industrial robot and construction equipment.• Anode materials: Flat year-on-year sales volume and lower net sales, despite the growing market for products used in lithium-ion batteriesIndustrial Furnace and Related Products20202018201713,54285815,5251,06810,700400201911,286-218,000016,000-80080001,600forecastOperating incomeNet sales(Year)(Millions of yen)(Millions of yen)Business results and forecastOther Businesses(Friction materials, Anode materials)2020201820176,8231,34211,3713,04315,6003,800201912,6413,22708,0004,00012,00016,00004,0002,0006,0008,000forecastOperating incomeNet sales(Year)(Millions of yen)(Millions of yen)Business results and forecastBusiness Overview28TOKAI CARBON ANNUAL REPORT 2019
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