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Net sales for the first nine months of the fiscal year ending March 2011 increased 162.6 billion yen, or 16.1%, year on year to 1,174.6 billion yen. An increase of 204.9 billion yen from improved sales volume & mixture in overseas markets as well as sales increases at three internal companies totaling 0.9 billion yen offset a currency exchange loss of 43.2 billion yen from the appreciation of the yen against the US dollar and euro.
Operating income rose 18.9 fold, or 69.6 billion yen, year on year to total 73.5 billion yen. This increase was mainly due to improved sales volume and mix and reduced material costs as well as SG&A expenses, etc.. The gains offset currency losses due to the appreciation of the yen and an increase in R&D expenses. Further details will be provided later on.
Ordinary income also increased 41.6 fold, or 73.0 billion yen, year on year to bring it to a total of 74.8 billion yen. Further details will also be provided later on.
Since no major extraordinary losses were posted, earnings before minority interests and income taxes totaled 72.3 billion yen for a year on year increase of 76.6 billion yen.
Net income totaled 58.4 billion yen, with a year on year increase of 73.6 billion yen, as the taxes paid by our US and domestic subsidiaries.
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