Message from the President
During these nine months, there was a sense of overall economic recovery following an increase in personal consumption and a decline in unemployment rate in the USA, despite the debt problems, hovering unemployment rate in Europe and the slowdown in economic sentiment in emerging countries. The economic climate is also improved gradually in Japan against the backdrop of increase in personal consumption, business investments and a boost in export companies, leveraging the impact of a depreciation of the yen.
In this business environment, OKI Group's net sales were 317.8 billion yen, a 14.1 billion yen increase year-on-year; due to the steady performance of each of the main segment such as Info-telecom systems business.
Operating income rose by 11.1 billion yen to 10.4 billion yen. The reduction in fixed costs etc. associated with revamping the Printers business structure and the impact of depreciation of yen attributed to the rise.
Ordinary income increased by 19.2 billion yen year-on-year to 21.6 billion yen, due to posting gain on foreign exchange. Net income improved by 15.8 billion yen year-on-year to 14.5 billion yen, as expenses to revamp the Printer business was recorded.
OKI has revised full-year earning projections, in light of consolidated business performance during the first nine months of fiscal year 2013.
Based on its recent performance, OKI has revised its exchange rate for the 4th quarter subject to depreciation of yen, in addition to steady progress of each business segment. Net sales is projected to be 484.0 billion yen, a 4.0 billion yen rise from the previous announcement; operating income of 26.0 billion yen, a 2.0 billion yen improvement; ordinary income of 34.0 billion yen, a 10.0 billion yen increase; and net income of 25.0 billion yen, a 10.0 billion yen increase from the previous announcement.
OKI projects steady business performance for this fiscal year which is the last year under the Mid-term Business Plan. Moving forward, the OKI Group will carry these achievements made in this Mid-term Business Plan to "Mid-term Business Plan 2016" and aim for further growth.
To our shareholders and investors, I ask for your continued and steadfast support as we move forward.
February 4, 2014