The graph shows net sales each year. In the fiscal year ended March 31, 2009, we experienced a huge negative impact from a strong yen which resulted in a loss of 31.1 billion yen on top of an abrupt downturn in the automobile, office automation equipment, consumer electronics, PC, hard disk drive, and mobile phone markets due to the global recession. Our net sales for this fiscal year declined drastically from the previous year's record high and were the lowest in the 14 years since the fiscal year ended March 31, 1995.
We expect sales for the fiscal year ending March 31, 2010 will decline to between 230 and 200 billion yen. Although progress with inventory adjustments in various product markets will lead to a slow recovery in demand, we don't expect to see demand return to its former peak level for some time to come.
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