Looking at consolidated business results for the fiscal year ended March 31, 2009, net sales fell significantly by 23.4% to 256.2 billion yen on a year-on-year basis, as demand diminished due to the sluggish global economy. Foreign exchange fluctuations, most notably the appreciation of the yen, brought net sales down 31.1 billion yen.
Operating income reached 13.4 billion yen, down 56.4% compared to last fiscal year. This huge drop was due mainly to the negative impact of the foreign exchange fluctuations and higher raw material prices during the first half, and a sharp sales drop amid the global economic downturn during the second half. The impact of foreign exchange on operating income for this fiscal year resulted in an increase of about 0.4 billion yen, while the impact of the hike in raw material prices resulted in a decline of about 1.5 billion yen.
Net income was 2.4 billion yen, suffering a large year-on-year drop of 85.0%.
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