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Year-to-date 9-month net sales for this fiscal year decreased by 10.9 billion yen. Sales increases at internal three Companies totaling 9.7 billion yen as well as the increased sales volume and improved product mix in overseas markets prevented further losses, which could have otherwise been pushed up by a decrease of 24.3 billion yen in revenue caused by the termination of SIA’s consigned production for Isuzu.
Year-to-date operating income increased 11.1 billion yen over the previous year to 37.6 billion yen. This increase resulted from our efforts to offset the unfavorable product mix both in domestic and overseas markets through cost reductions, streamlining R&D expenses and other overhead. Further details on operating income will be provided later.
Ordinary income went up by 2.6 billion yen on a year-on-year basis to 31.2 billion yen. An increase of 11.1 billion yen in operating income was reduced by a 9.2 billion yen loss due to the appraisal gain and loss on derivatives and foreign exchange related losses. Further details will be provided later.
Year-to-date net income fell 7.9 billion yen to 12.8 billion yen due to provision for premium retirement benefit which is payment to employees leaving under the early retirement program which was offered in December.