Your guess is as good as mine. I think we’re well positioned, but I do think there are macros there that are hard to predict. In Asia-Pacific, boy, it’s hard to find too many areas that aren’t — maybe India, I would say is doing well. But generally, a lot of areas seem to be having trouble creating a recovery from the COVID for a number of reasons. China, I think it’s well documented. Everybody talks about China. We’re holding our own in China. But Japan, the currencies make a little different. The Yen is pretty weak versus the U.S. dollar and has been for a while, and it’s weakened recently versus the RMB. So products into Japan are not so competitive in some cases. So that weakens that. And the market itself is down somewhat. So you’re seeing those kinds of things play out.
I think Asia will start to work its way out because I don’t think it has a long-term problem like the war or like some concerns over — or where they’re going to get their fuel or energy. So I think that fixes itself more quickly than Europe by in Europe, I’m not sure where it’s going. Now the auto repair business in Europe in terms of the repair shop owners and managers is pretty good, particularly collision. The industrial business, pretty good, the critical industries business. But the basic up and down the street business and our tools business kind of.
Luke Junk: Okay, I will leave it there. Thanks, Nick.
Operator: And our next question will come from Gary Prestopino with Barrington Research. Please go ahead with your question.
Gary Prestopino: Hey, good morning everyone.
Nicholas Pinchuk: Good morning, Gary.
Gary Prestopino: Nick, I know we’ve talked about this [indiscernible], but I’m really — I’m a little bit confused here about what’s going on in the Tools Group. Could you maybe just talk about the product segments where you had these capacity constraints? I think you mentioned tool storage, but what other products were you having or segments where you’re having issues with capacity installers?
Nicholas Pinchuk: Hand tools. Hand tools is at an all-time high. And some particular products are at over all-time high, like certain versions of the stock. And so when you got those stock, it sometimes your promotion is ready to go on a particular array of sockets as kind of a new package that will address a certain promise and you just don’t have the capacity for, say, half of the package. And so that’s open to us in a situation. So it’s basically those guys bumping up against it and then over the top in tool storage, the industrial business starting to expand its capacity and being able to source more of other products from other people and so on, and break basically, the industrial business have been bound up in a kind of Gordian knot of shipments. I talked about it many times in the quarter. They cut that Gordian knot this quarter and started to ship more and that created more demand on the tool storage and hands tool plant as well.
Gary Prestopino: Okay. And then as we work through the year, you’re bringing on capacity and this should alleviate as we work through that?
Nicholas Pinchuk: Yes. I mean we’ve been saying this for a long time. It’s just the particular ordering — this ordering pattern in this quarter kind of bumped us up against it quicker than we thought. That’s simply it.
Gary Prestopino: Were the hand tools typical run-of-the-mill hand tools? Or were they more, like you said, customized? I’m just trying to understand how…
