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We project both sales and income for the fiscal year ending March 2011 to increase over last fiscal year.
Net sales will rise 11.3 %, or 161.3 billion, yen year on year, to reach 1,590 billion yen. Overseas sales will account for about 70% of total and is projected to exceed 1 trillion yen for the first time ever.
Operating income is estimated to increase by 155.9%, or 42.7 billion yen, year on year to total 70.0 billion yen. This projection is based upon the premise that the yen will remain strong and R&D and SG&A expenses will increase though overseas sales volumes will grow and other costs will be reduced. Further details will be provided later on.
Ordinary income is forecasted to rise 204.1% over last year’s figure with a year-on-year increase of 45.6 billion yen adding up to a total of 68.0 billion yen.
Income before income taxes and minority interests are expected to total 60.0 billion yen. This includes extraordinary losses on the disposal of fixed assets to be posted during the second half of this fiscal year.
Net income is expected to total 50.0 billion yen with projected taxes for our subsidiaries amounting to approximately 10.0 billion yen. Net income will increase 66.5 billion yen over the previous fiscal year, bringing us back to profitability for the first time in two years.
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