Second quarter net sales for the Machined Components business segment rose 1.3% from the previous quarter to total 37.1 billion yen. Operating income was up 2.3% from the previous quarter to reach 9.8 billion yen. The operating margin rose 0.3 percentage points to hit 26.4%. Robust demand continued to grow for all businesses in the segment, fueling a 7.2% increase in net sales and a 14.5% increase in operating income over the same period last year.
Sales of ball bearings were flat from the previous quarter at 20.7 billion yen. Demand swelled year on year to buoy external shipment volumes which hit another record high of 151 million units in September. We expect the external shipment volume to be high in the December quarter as well.
Sales and profits of rod-ends and fasteners increased 5.9% from the previous quarter to total 7.2 billion yen. Although the U.S. government's defense budget cuts put a dent in the demand, our shipments were up due to the growing demand from the civil aviation industry. Profitability also improved.
Sales of HDD pivot assemblies were flat from the previous quarter at 9.2 billion yen. We were able to earn steady profits due to our high market share in a stable HDD market.
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