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Looking at operating income by business segment, we see that the operating income for the automobile business totaled 39.4 billion yen, down 41.0 billion yen 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 following on the heels of the earthquake as well as foreign exchange losses caused by the appreciation of the Japanese yen despite increased domestic sales volumes and reductions in SG&A expenses at SOA and SIA, our U.S. subsidiaries.
Operating income for the Aerospace Division rose 0.6 billion yen to reach 2.9 billion yen thanks to an improved sales mix variance that offset foreign exchange losses.
The Industrial Products Division also saw a 0.6 billion yen increase in operating income that brought the operating income total to 0.5 billion yen. This increase was largely due to increased sales around the world, which offset foreign exchange losses.
Operating income for other business segments decreased 0.4 billion yen to total 1.0 billion yen.