Despite the positive signs we see in Europe regarding COVID-19 and business recovery, we recognise that global supply chains remain very challenged. We continue to experience significant issues with supply of some electronic components and raw materials, equally we continue to see increased costs with these materials and every area of supply chain from energy to logistics.
OMRON is working tirelessly to realize greater production capabilities and efficiency in parallel with continued collaboration between OMRON leadership and our suppliers to secure parts and materials. We are doing everything possible to mitigate for these cost increases, however these improvements cannot fully off-set the cost increases, therefore we must apply a price increase of 7% across our portfolio.
We at OMRON do not take anything for granted. We truly appreciate all the orders that our customers entrust to us, and we are doing everything we can to maintain that trust.