Industrial materials
Japanese demand for conveyor belts was strong,
bolstered by orders from mines and thermal power
plants. Overseas, vigorous business in the United States
offset weakness in Australia and in Asian nations. Sales
were weak in antiseismic joints for bridges, as spending
on large bridge projects declined and as price competition
escalated. Our business in marine hoses was robust amid
stepped-up activity in natural resources development
worldwide. Escalating price competition affected our
business in pneumatic marine fenders adversely, though
demand remained strong for our large fenders.