| |
Net sales for the first nine months of the fiscal year ending March 2012 fell 145.2 billion yen, or 12.4%, year on year to total 1,029.4 billion yen. This decline includes a loss of 93.1 billion yen due to the poor sales mix variance associated with the earthquake and a foreign exchange loss of 57.3 billion yen due to the strong yen. These losses were unfortunately not offset by the revenue increases at our three internal companies which generated an overall gain of 5.2 billion yen.
Operating income, totaling 27.9 billion yen, dropped 45.6 billion yen, or 62.1%, year on year. Despite a boost from lower SG&A expenses, operating income fell due to an unfavorable sales mix variance, foreign exchange losses, increased R&D expenses, and hikes in material prices. These factors will be looked at in greater detail later on.
Ordinary income declined 46.1 billion yen, or 61.6%, to 28.7 billion yen due to a lower gain on equity method investments.
Income before income taxes and minority interests dropped 25.2 billion yen, or 34.9%, to total 47.0 billion yen. This was due to a decrease in ordinary income as well as an extraordinary loss due to the disaster resulting from the recent earthquake despite an extraordinary gain from the sale of the Subaru Building, which was posted during the first quarter.
This drop in income before income taxes and minority interests brought net income down 21.7 billion yen, or 37.1%, to 36.8 billion yen. |
|
|