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Net sales for the first three months of the fiscal year ending March 2011 was 370.3 billion yen, which increased 99 billion yen, or 36.5% compared with the same period of the previous fiscal year. Major factors behind this growth was a 106.3 billion yen increase of improvement of sales volume and mixture in both domestic and overseas markets, which offset 1.7 billion yen decrease in revenues from our three internal companies and other segments, as well as 5.6 billion yen loss on currency exchange due to a stronger yen against the US dollar and Euro.
Operating income for the first three months of the fiscal year ending March 2011 was 22.6 billion yen, up 42.3 billion yen on a year on year basis.� This increase was attributed to improvement of sales volume and mixture, materials costs reduction, and cutbacks in SG&A expenses and etc., �which compensated for exchange losses due to the stronger yen and an increase in R&D expenses. Further details will be provided later on.
Ordinary income for the first three months of the fiscal year ending March 2011 was 24.2 billion yen, up �43.7 billion yen on a year on year basis.� More details will be also provided later on.
Income before income taxes and minority interests for the first three months of the fiscal year ending March 2011 was 24.5 billion yen, up 44.5 billion yen on a year on year basis as there were no particularly large items of extraordinary income and loss.
Net income for the first three months of the fiscal year ending March 2011 was 19.1 billion yen, 38.4 billion yen improved on a year on year basis while income tax was paid attributed to stronger sales in our U.S. subsidiaries
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