Overseas expansion and synergies centered on OSAKI United International

「EDMI America Inc. became a consolidated subsidiary from the current consolidated fiscal year following its establishment.」

「Revenue increased due to higher shipments under the UK government's smart-meter project, while revenue declined in Oceania due to customer inventory adjustments and other factors and in Asia due to a decline following the temporary increase from individual projects in the same period of the previous year. Operating profit increased year on year due to improved profit margins from higher UK sales and lower selling, general and administrative expenses resulting from organizational restructuring.」

「Revenue in the overseas measurement and control business increased 2.5% year on year to ¥41,719 million, and operating profit increased 28.0% to ¥1,477 million. Revenue declined due to the impact of customer inventory adjustments in the UK in the first and second quarters, withdrawal from low-profit businesses in Asia, and selective order acceptance reflecting credit risks in the Middle East and Africa, among other factors. However, increased shipments driven by higher new and replacement demand in Oceania resulted in revenue growth for the business overall.」

「In the overseas measurement and control business, shipments to Oceania increased steadily compared with the previous interim consolidated accounting period, while shipments to the UK declined due to customer inventory adjustments. As a result, revenue declined 0.7% from the previous interim consolidated accounting period to ¥19,424 million. In terms of earnings, strong performance in Oceania and improved profit margins in the UK due to favorable exchange-rate movements more than offset the impact of lower revenue and other factors, resulting in operating profit of ¥331 million, up 20.1% from the previous interim consolidated accounting period.」

「In the overseas measurement and control business, shipments to the UK increased due to improved conditions for procuring electronic components, while shipments to Oceania also increased. As a result, revenue increased 17.6% year on year to ¥40,693 million. In terms of earnings, in addition to higher revenue, the easing of previously elevated electronic component prices and other factors resulted in operating profit of ¥1,155 million, compared with an operating loss of ¥1,886 million in the previous fiscal year.」

「In the overseas measurement and control business, shipments to the UK increased due to improved conditions for procuring electronic components, while shipments to Oceania also increased. As a result, revenue increased 32.8% year on year to ¥30,138 million. In terms of earnings, in addition to higher revenue, the easing of previously elevated electronic component prices and other factors resulted in operating profit of ¥782 million, compared with an operating loss of ¥1,343 million in the same period of the previous year.」

「In the overseas measurement and control business, shipments to the UK increased due to improved conditions for procuring electronic components, while shipments to Oceania also increased. As a result, revenue increased 33.5% year on year to ¥19,559 million. In terms of earnings, in addition to higher revenue, the easing of electronic component prices, which had risen due to procurement difficulties, and other factors resulted in operating profit of ¥276 million, compared with an operating loss of ¥777 million in the same period of the previous year.」

「In the overseas measurement and control business, shipments to the UK increased due to improved conditions for procuring electronic components, while shipments to Oceania also increased steadily. As a result, revenue increased 33.0% year on year to ¥9,581 million, and operating profit was ¥55 million, compared with an operating loss of ¥159 million in the same period of the previous year.」

「In the overseas measurement and control business, shipments to Oceania increased steadily compared with the same period of the previous year, while shipments to the UK declined due to difficulties procuring electronic components. Although revenue declined on a US-dollar basis, the functional currency, the impact of yen depreciation resulted in revenue of ¥22,699 million, up 6.1% year on year. In terms of earnings, higher component prices and other factors resulted in an operating loss of ¥1,343 million, compared with operating profit of ¥23 million in the same period of the previous year.」

「In the overseas measurement and control business, shipments to Oceania increased steadily compared with the same period of the previous year, while shipments to the UK declined due to difficulties procuring electronic components. As a result, revenue increased 0.2% year on year to ¥14,647 million. In terms of earnings, higher component prices and other factors resulted in an operating loss of ¥777 million, compared with operating profit of ¥118 million in the same period of the previous year.」

「In the overseas measurement and control business, shipments to the UK declined due to difficulties procuring electronic components, while shipments to Oceania increased steadily. As a result, revenue increased 0.7% year on year to ¥7,202 million.」

「In the overseas measurement and control business, shipments to Oceania and the UK increased compared with the same period of the previous year, which was affected by COVID-19. Meanwhile, sales to the Kurdistan Regional Government in Iraq, which had contributed to results in the same period of the previous year, declined as demand ran its course. As a result, revenue increased 12.4% year on year to ¥21,395 million, and operating profit was ¥23 million, compared with an operating loss of ¥180 million in the same period of the previous year.」

「In the overseas measurement and control business, sales to the Kurdistan Regional Government in Iraq, which had contributed to results in the same period of the previous year, ran their course, but shipments to Oceania and for the UK project increased compared with the same period of the previous year, which was affected by COVID-19. As a result, revenue increased 13.1% year on year to ¥14,613 million, and operating profit was ¥118 million, compared with an operating loss of ¥224 million in the same period of the previous year.」

「In the overseas measurement and control business, shipments to Oceania were flat and shipments for the UK project increased compared with the same period of the previous year. However, as sales to the Kurdistan Regional Government in Iraq, which had contributed to results in the same period of the previous year, ran their course, revenue declined 8.5% year on year to ¥7,153 million. In terms of earnings, higher production efficiency accompanying increased shipments for the UK project and lower selling, general and administrative expenses resulted in operating profit of ¥163 million, up 637.4% year on year.」

「In the overseas measurement and control business, smart-meter installation stalled in the countries where our Group operates due to lockdowns related to the spread of COVID-19, and shipments to Oceania, the UK, and Asia declined. Orders for the Kurdistan Regional Government in Iraq and Cambodia also declined compared with the strong results in the same period of the previous year. As a result, revenue was ¥19,033 million, down ¥9,352 million, or 32.9%, year on year. In terms of earnings, although selling, general and administrative expenses declined, the aforementioned revenue decline resulted in an operating loss of ¥180 million, a year-on-year decline in operating profit of ¥993 million, compared with operating profit of ¥813 million in the same period of the previous year.」

「In the overseas measurement and control business, smart-meter installation stalled in the countries where our Group operates due to lockdowns related to the spread of COVID-19. Shipments to Oceania and Asia declined, while the UK project, for which business expansion had been expected from the current period, remained at the sales level of the same period of the previous year. As a result, revenue was ¥12,916 million, a decline of ¥6,134 million, or 32.2%, year on year. In terms of earnings, although selling, general and administrative expenses declined, the aforementioned revenue decline resulted in an operating loss of ¥224 million, a year-on-year decline in operating profit of ¥786 million, compared with operating profit of ¥561 million in the same period of the previous year.」

「In the overseas measurement and control business, smart-meter installation stalled in the countries where our Group operates due to lockdowns related to the spread of COVID-19, and shipments to New Zealand and other markets with high profit margins declined. Orders for the Kurdistan Regional Government in Iraq and Cambodia also declined compared with the strong results in the same period of the previous year.」

「In addition to the UK, projects for the Kurdistan Regional Government in Iraq and Cambodia contributed to sales, further expanding the scope of overseas operations and their contribution to results.」

「Overseas, sales increased steadily in Australia, where smart-meter installation is advancing. In addition, shipments of communication hubs and smart meters increased in the UK, while smart-meter projects for the Kurdistan Regional Government in Iraq and Cambodia made a significant contribution in emerging markets, resulting in substantial revenue growth.」

「Overseas, sales in Australia's eastern states, where smart-meter installation is mandatory, increased steadily. In addition, shipments of communication hubs and other products in the UK increased, while smart-meter projects in the Middle East, which began in the second half of the previous fiscal year, made a significant contribution, resulting in substantial revenue growth.」

「Overseas, shipments to Australia, where demand for smart meters is increasing, grew steadily. Sales of communication hubs and other products in the UK also increased, while projects in the Middle East made a significant contribution, resulting in substantial revenue growth across all regions.」

「Overseas, we have made upfront investments in smart-meter projects, primarily in the UK, and expect full-scale growth in shipments to the UK from the fiscal year ending March 2020. Demand for smart meters and higher-level systems is also increasing in Australia and the Middle East, creating more opportunities and projects that can contribute to higher earnings.」

「Overseas, we undertook active sales initiatives and expanded production capacity in preparation for expected growth in smart-meter demand.」

「We will also consider expanding into new markets where demand for smart meters is expected to grow.」

「We will also focus on overseas expansion centered on OUI and pursue synergies with the company.」

「We will focus on overseas expansion centered on OSAKI United International Pte.Ltd. and pursue synergies with the company.」