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(August 5, 2010)
| Sales | Operating Income (Loss) | Net Income (Loss) | |
|---|---|---|---|
| First quarter period ended June 30, 2010 | 16,521(-29.7%) | (1,351)(-) | (995)(-) |
| First quarter period ended June 30, 2009 | 23,488(-39.9%) | 1,389(-59.4%) | 824(-59.7%) |
Notes: Listed values less than one million yen are rounded off.
Percentage figures represent comparisons to the first quarter period of the previous fiscal year.
| Sales | Operating Income | Net Income | |
|---|---|---|---|
| Full year term | 109,000(4.6%) | 1,200(96.0%) | 200(-) |
Note: Percentage figures represent comparisons to the same period of the previous fiscal year.
Explanation concerning appropriate use of result forecasts and other matters of note:
The projections above are based on certain premises derived from information that has been available as of the day this material was released. The actual results may materially differ from the forecasts as a result of various unforeseen factors that may arise.
Despite improvements in corporate earnings and no further worsening in capital investment as exports and production recovered, Japan's economy during the first quarter saw increased uncertainty due to continued severe employment and income conditions in addition to concerns about credit instability in Europe and the economic outlook in the United States.
While our industry saw a movement toward a recovery, albeit a weak one, in domestic demand and movement in some overseas regions, demand fell rapidly in Europe and North America, the industry's leading markets.
Domestic sales increased by 10.5% from the same period of the previous fiscal year to 8,849 million yen due to increased sales of construction cranes and other products. Overseas sales fell by 50.4% from the same period of the previous fiscal year to 7,672 million yen due to a significant decrease in demand and to the rising yen. As a result, total sales were 16,521 million yen, down 29.7% from the same period of the previous fiscal year. The ratio of overseas sales to total sales was 46.4 percent.
Despite a focus on reducing total labor costs and cutting various expenses, the figure for ordinary income showed a loss of 1,528 million yen (vs. income of 1,465 million yen in the same period of the previous fiscal year) due to a marked drop in sales, rising costs due to use of raw materials purchased when prices were high and to decreased operating ratios, and 210 million yen in foreign-exchange losses in connection with the rising yen. Net income for the quarter showed a loss of 995 million yen (vs. income of 824 million yen in the same period of the previous fiscal year).