Message from the President Corporate Information Message from the President
During this quarter, there has been an overall sense of gradual economic recovery against the backdrop of improvement in unemployment in Europe and USA, in addition to the upturn in consumption and capital investment in the USA, despite geopolitical risks in Europe and concern over economic slowdown in emerging countries. Japan continues to see an improving economic sentiment, backed by boost in company earnings and employment conditions.
In this business environment, OKI Group's net sales were 99.1 billion yen, a 7.9 billion yen increase year-on-year; Info-telecom business performance was approximately as planned, in addition to the favorable Printers business. Operating income improved drastically by 3.2 billion yen, a 0.9 billion yen increase year-on-year; due to product mix improvement in line with sales strategies in Printer business.
Decrease in currency exchange gain and other factors led to ordinary income decrease of 0.6 billion yen year-on-year to 1.0 billion yen; extraordinary loss related to revamping the Printer business structure implemented last fiscal year, was no longer recorded; leading to net income growth of 1.3 billion yen year-on-year, making it almost break-even.
OKI has started the first fiscal year of the Mid-term Business Plan 2016 steadily, changing its gears to Expansion Mode. Moving forward, the OKI Group will make the utmost efforts to steadily achieve its targets for this fiscal year, also with a focus on the final targets under the Mid-term business Plan.
We are grateful for the continuing support and cooperation of all our shareholders and investors. I ask for your continued and steadfast support as we move forward.
July 30, 2014