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Looking at operating income by business segment, we see that the operating income for the automobile business totaled 25.2 billion yen, down 46.7 billion yen, or 64.9%, year on year. This decline was due mainly to an unfavorable sales mix variance as a result of the decline in production and sales volume as well as foreign exchange losses caused by the appreciation of the Japanese yen despite reductions in SG&A expenses.
Operating income for the Aerospace Division rose 1.9 billion yen to reach 1.5 billion yen thanks to an improved sales mix variance that offsets foreign exchange losses.
The Industrial Products Division also saw a 0.3 billion yen (310.8%) increase in operating income that brought the operating income total to 0.5 million yen. This increase was largely due to soaring sales of engines and power generators, which offset foreign exchange losses.
Operating income for other business segments decreased 1.1 billion yen, or 60.3%, to total 0.7 billion yen due to declining sales of wind power generators.