As a result of the above, we revised our forecast for this fiscal year upward.
In the new forecast, net sales will remain unchanged at 335 billion yen. Operating income was revised upward by 5% to 31.5 billion yen. Out of that amount, the operating income for the machined components business remains unchanged at 27.9 billion yen while the operating income for the electronic devices and components business was revised upward by 71% to 3.6 billion yen. Ordinary income was revised to 27.0 billion yen. Net income before income taxes was revised to 24.5 billion yen. Net income was revised to 16.0 billion yen. Earnings per share were revised to 40.1 yen.
Strong demand for our main products such as ball bearings, aircraft parts, pivot assemblies and spindle motors for HDDs, inverters and measuring components still seems to be continuing for the January to March period even though there might be some seasonality. We will continue our efforts to improve our business results.
However, we will keep a close eye on major risk factors such as foreign exchange fluctuations in Asian currencies, the US dollar and other currencies, fluctuations in the energy and material markets and general economic conditions in major countries around the world due to the financial market turmoil triggered by the sub-prime loan crisis in the U.S.
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