Looking at consolidated business results for the first half of the fiscal year ending March 31, 2015, we see that net sales were up 19.8% year on year to total 216,557 million yen. Operating income climbed 90.4% year on year to reach 24,761 million yen while net income hit 17,817 million yen, twice what it was a year ago. Net sales, ordinary income and net income for the quarter all hit record highs since we started announcing half-year consolidated results in 1996.
The upturn in the global economy continued to buoy demand for many of our products, driving sales and profits much higher than the upward revision made to the forecast in July. Profitability improved and profits rose significantly due to increased production volume and better factory utilization. In terms of products, starting with an increased external shipment volume for ball bearings, a rapid increase in sales of LED backlights and better profitability in our motor businesses, all product lines improved steadily. And those were the main factors behind this significant improvement.
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