Message from the President Corporate Information Message from the President
During the first half of this fiscal year, the overall global economy moved slowly towards recovery against the backdrop of economic revival of the United States, while there were concerns regarding the effect on geographical risks in Europe and economic stagnation in emerging countries.
In Japan, the overall economy was also showing signs of gradual recovery, despite some weakness in personal consumption and business investment.
Under such business circumstances, OKI reported net sales of 228.8 billion yen, a 24.8 billion yen increase year-on-year, due to favorable results exceeding the plan in each business segment. Operating income was 6.6 billion yen, a 3.8 billion yen increase year-on-year, thanks to increase in sales volume and product mix improvement in Printer business.
Ordinary income was 9.6 billion yen, a 2.6 billion yen increase year-on-year despite decreasing of exchange gain. Net income grew by 8.5 billion yen to 10.3 billion yen since the structural reform of Printer business in the last fiscal year has been settled down and accordingly extraordinary loss related to that structural reform was no longer recorded.
For full-year consolidated earnings projections, OKI has upwardly revised from its previous announcement in light of stable performance of the first half of fiscal year 2014. In Info-telecom system business, sales of ATMs for overseas market including China and digitalization of fire prevention wireless systems are favorable. In Printer business, sales of strategic products designed for office solution and professional market and high-end products for office printer market are steady. Sales of EMS business are also steady as planned.
As a result, OKI projects full-year performance as follows; net sales of 535.0 billion yen (10.0 billion yen increase from the previous announcement), operating income of 30.0 billion yen (1.5 billion yen increase), ordinary income of 29.0 billion yen (3.5 billion yen increase) and net income of 21.0 billion yen (3.5 billion yen increase).
OKI is striving to accomplish for generating stable and sustainable profits to our stakeholders as the highest priority. As previously announced, we will pay an interim dividend of 2 yen per share for fiscal year 2014. A year-end dividend of 2 yen per share is also planned.
As the first year of the "Mid-term Business Plan 2016", the fiscal year 2014 has started smoothly. Moving forward, OKI Group will work together to pursue further growth and success. We are grateful for your continued and steadfast support as we move forward.
October 31, 2014