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Net sales for the first nine-month period of the fiscal year ending March 2010 decreased by 94.6 billion to 1,012.1 billion yen. Major factors behind the decrease included a loss of 25.7 billion yen due to the deterioration of sales volume and mix, a loss on currency exchange of 72.8 billion yen due to the appreciation of the yen against the US dollar, euro and Canadian dollar despite increases in sales at three internal companies and others totaling 3.9 billion yen.
Operating income returned to the black, 3.9 billion yen, despite a year on year decrease of 6.0 billion yen. This was made possible mainly by our efforts to reduce materials cost as well as SG&A and R&D expenses to offset the deterioration of the sales volume and mix and the loss on currency exchanges due to the appreciation of the yen. Further details will be provided later on.
Ordinary income also bounced back to black, 1.8 billion yen, despite a year on year decrease of 7.2 billion yen (further details will follow).
Net income fell 0.4 billion yen year on year, resulting in a net loss of 15.2 billion yen, due primarily to a domestic dealer-related impairment loss of 3.2 billion yen which was incurred during the first half of the fiscal year.