Net sales for the first three quarters of fiscal 2010 were ¥311,513m, compared to ¥376,719m in 2009; a differential of 17.3%.
During the period 1st April to 31st December 2009, operating income fell by 22% to ¥19,840m from ¥25,452m, while net income decreased to ¥10,812m, a decline of 19.6% on the previous year.
During this period the Japanese economy showed a moderate recovery, largely due to improvements in export-related demand accompanying a general recovery in China and other Asian economies. The trend was supported by a growth in demand for eco-friendly cars and domestic appliances, which was catalysed by Japanese government’s economic stimulus measures.
Nevertheless the outlook is pessimistic, with slow consumer spending and commodity prices which are extending their downward trend.
During this climate, the company made efforts to strengthen marketing capabilities, further reduce costs and restore profitability. However, overall finances were reported in a state of general decline on the same period in 2009. The machinery and equipment sector felt the largest decline in sales, followed by the gas business, while the houseware and business sector depreciated the least year on year.
The company forecasts net sales for the fiscal 2010 full term of ¥450,000m; an operating income of ¥27,400m; and a net income of ¥13,300m.
... to continue reading you must be subscribed
