Expansion of revenue and profit

「As deliveries progressed, centered on several large projects whose revenue recognition had been deferred from the previous fiscal year, consolidated revenue increased 43.9% year on year to ¥2,652 million, compared with revenue of ¥1,843 million in the same period of the previous year.」

「Revenue was ¥2,132.9 million, up 2.9% year on year (prior-year period: ¥2,073.4 million). Operating profit increased by ¥152 million to ¥407 million (prior-year period: ¥254 million), ordinary profit increased by ¥67 million to ¥358 million (prior-year period: ¥290 million), and net income attributable to owners of the parent increased by ¥140 million to ¥376 million (prior-year period: ¥235 million).」

「Revenue was ¥617.7 million, up 11.3% year on year (prior-year period: ¥554.9 million), as second-quarter deliveries progressed as planned, deliveries of orders carried over from the first quarter proceeded, and some orders originally scheduled for revenue recognition from the third quarter onward were delivered ahead of schedule. Operating results improved by ¥167 million, resulting in an operating loss of ¥1,109 million (prior interim consolidated accounting period: operating loss of ¥1,277 million). Ordinary results also improved by ¥171 million, resulting in an ordinary loss of ¥1,121 million (prior interim consolidated accounting period: ordinary loss of ¥1,292 million). Net income also improved by ¥172 million, resulting in an interim net loss attributable to owners of the parent of ¥1,145 million (prior interim consolidated accounting period: interim net loss attributable to owners of the parent of ¥1,317 million).」

「Revenue was ¥2,073.4 million, down 4.0% year on year (prior-year period: ¥2,160.3 million). Operating profit declined by ¥540 million to ¥254 million (prior-year period: ¥794 million), ordinary profit declined by ¥611 million to ¥290 million (prior-year period: ¥902 million), and net income attributable to owners of the parent declined by ¥443 million to ¥235 million (prior-year period: ¥679 million).」

「Revenue was ¥554.9 million, down 33.5% year on year, as the number of carried-over orders recognized as revenue during the current interim consolidated accounting period remained low, as in the first quarter (prior interim consolidated accounting period: ¥834.1 million). Operating results declined by ¥1,276 million, resulting in an operating loss of ¥1,277 million (prior interim consolidated accounting period: operating loss of ¥1 million). Ordinary results declined by ¥1,429 million, resulting in an ordinary loss of ¥1,292 million (prior interim consolidated accounting period: ordinary profit of ¥136 million). Net income also declined by ¥1,391 million, resulting in an interim net loss attributable to owners of the parent of ¥1,317 million (prior interim consolidated accounting period: interim net income attributable to owners of the parent of ¥73 million).」

「Revenue was ¥1,275.0 million, up 3.4% year on year (prior-year period: ¥1,233.5 million). Operating results improved by ¥1,365 million, resulting in operating profit of ¥140 million (prior-year period: operating loss of ¥1,225 million). Ordinary results improved by ¥1,448 million, resulting in ordinary profit of ¥242 million (prior-year period: ordinary loss of ¥1,206 million). Net income also improved by ¥1,419 million, resulting in quarterly net income attributable to owners of the parent of ¥200 million (prior-year period: quarterly net loss attributable to owners of the parent of ¥1,218 million).」

「Revenue was ¥834.1 million, up 20.9% year on year (prior-year period: ¥689.7 million). Operating results improved by ¥1,216 million, resulting in an operating loss of ¥1 million (prior-year period: operating loss of ¥1,217 million). Ordinary results improved by ¥1,301 million, resulting in ordinary profit of ¥136 million (prior-year period: ordinary loss of ¥1,165 million). Net income improved by ¥1,264 million, resulting in quarterly net income attributable to owners of the parent of ¥73 million (prior-year period: quarterly net loss attributable to owners of the parent of ¥1,190 million).」

「Revenue was ¥350 million, up 29.2% year on year (prior-year period: ¥271.0 million). Operating results improved by ¥529 million, resulting in an operating loss of ¥236 million (prior-year period: operating loss of ¥766 million). Ordinary results improved by ¥630 million, resulting in an ordinary loss of ¥104 million (prior-year period: ordinary loss of ¥734 million). Net income also improved by ¥611 million, resulting in a quarterly net loss attributable to owners of the parent of ¥121 million (prior-year period: quarterly net loss attributable to owners of the parent of ¥732 million).」

「Revenue was ¥1,233.5 million, up 25.6% year on year (prior-year period: ¥981.8 million). Operating results improved 11.4%, resulting in an operating loss of ¥1,225 million (prior-year period: operating loss of ¥1,382 million). Ordinary results improved 11.7%, resulting in an ordinary loss of ¥1,206 million (prior-year period: ordinary loss of ¥1,366 million). Net income improved 13.4%, resulting in a quarterly net loss attributable to owners of the parent of ¥1,218 million (prior-year period: quarterly net loss attributable to owners of the parent of ¥1,407 million).」

「Revenue was ¥689.7 million, up 6.6% year on year (prior-year period: ¥647.2 million). Operating results declined 28.6%, resulting in an operating loss of ¥1,217 million (prior-year period: operating loss of ¥946 million). Ordinary results declined 25.2%, resulting in an ordinary loss of ¥1,165 million (prior-year period: ordinary loss of ¥930 million). Net income declined 24.1%, resulting in a quarterly net loss attributable to owners of the parent of ¥1,190 million (prior-year period: quarterly net loss attributable to owners of the parent of ¥959 million).」

「Revenue was ¥271.0 million, down 10.3% year on year (prior-year period: ¥302.2 million). Operating results declined 3.8%, resulting in an operating loss of ¥766 million (prior-year period: operating loss of ¥738 million). Ordinary results declined 1.4%, resulting in an ordinary loss of ¥734 million (prior-year period: ordinary loss of ¥724 million). Net income declined 0.9%, resulting in a quarterly net loss attributable to owners of the parent of ¥732 million (prior-year period: quarterly net loss attributable to owners of the parent of ¥725 million).」

「As a result, consolidated revenue was ¥981.8 million, down 22.2% year on year, due in part to lower domestic revenue from the broadcasting systems business (prior-year period: ¥1,262.2 million). The company posted an operating loss of ¥1,382 million (prior-year period: operating loss of ¥868 million), an ordinary loss of ¥1,366 million (prior-year period: ordinary loss of ¥819 million), and a quarterly net loss attributable to owners of the parent of ¥1,407 million (prior-year period: quarterly net loss attributable to owners of the parent of ¥836 million).」

「Revenue was ¥647.2 million, down 17.9% year on year (prior-year period: ¥788.4 million). Operating results were affected by lower revenue, resulting in an operating loss of ¥946 million (prior-year period: operating loss of ¥681 million). Ordinary results resulted in an ordinary loss of ¥930 million (prior-year period: ordinary loss of ¥635 million), while net income resulted in a quarterly net loss attributable to owners of the parent of ¥959 million (prior-year period: quarterly net loss attributable to owners of the parent of ¥648 million).」

「Revenue was ¥302.2 million, up 3.7% year on year (prior-year period: ¥291.3 million). In terms of earnings, operating results improved 2.7%, resulting in an operating loss of ¥738 million (prior-year period: operating loss of ¥758 million). Ordinary results improved 2.2%, resulting in an ordinary loss of ¥724 million (prior-year period: ordinary loss of ¥740 million). Net income improved 2.2%, resulting in a quarterly net loss attributable to owners of the parent of ¥725 million (prior-year period: quarterly net loss attributable to owners of the parent of ¥742 million).」

「Revenue was ¥2,185.0 million, down 5.9% year on year (prior-year period: ¥2,322.9 million). Operating profit fell 47.1% to ¥407 million (prior-year period: ¥768 million), ordinary profit fell 9.6% to ¥498 million (prior-year period: ¥552 million), and net income attributable to owners of the parent fell 37.0% to ¥444 million (prior-year period: ¥705 million).」

「Revenue was ¥1,262.2 million, down 1.7% year on year (prior-year period: ¥1,283.5 million). In terms of earnings, operating results declined by ¥337 million, resulting in an operating loss of ¥868 million (prior-year period: operating loss of ¥530 million). Ordinary results declined by ¥319 million, resulting in an ordinary loss of ¥819 million (prior-year period: ordinary loss of ¥500 million). Net income declined by ¥488 million, resulting in a quarterly net loss attributable to owners of the parent of ¥836 million (prior-year period: quarterly net loss attributable to owners of the parent of ¥347 million).」

「Revenue was ¥788.4 million, down 8.2% year on year (prior-year period: ¥858.6 million). In terms of earnings, operating results declined by ¥338 million, resulting in an operating loss of ¥681 million (prior-year period: operating loss of ¥342 million). Ordinary results declined by ¥319 million, resulting in an ordinary loss of ¥635 million (prior-year period: ordinary loss of ¥315 million). Net income declined by ¥514 million, resulting in a quarterly net loss attributable to owners of the parent of ¥648 million (prior-year period: quarterly net loss attributable to owners of the parent of ¥133 million).」

「Revenue was ¥291.3 million, down 15.4% year on year (prior-year period: ¥344.5 million). In terms of earnings, operating results declined by ¥243 million, resulting in an operating loss of ¥758 million (prior-year period: operating loss of ¥515 million). Ordinary results declined by ¥274 million, resulting in an ordinary loss of ¥740 million (prior-year period: ordinary loss of ¥466 million). Net income declined by ¥481 million, resulting in a quarterly net loss attributable to owners of the parent of ¥742 million (prior-year period: quarterly net loss attributable to owners of the parent of ¥260 million).」

「Operating results for the consolidated fiscal year declined year on year due to lower revenue, but exceeded the initial forecast of ¥700 million in operating profit by a small margin, owing to improved production efficiency and efforts to control expenses in the fourth quarter.」

「Revenue was ¥1,283.5 million, down 10.3% year on year (prior-year period: ¥1,431.5 million). In terms of earnings, operating results declined by ¥293 million, resulting in an operating loss of ¥530 million (prior-year period: operating loss of ¥237 million). Ordinary results declined by ¥267 million, resulting in an ordinary loss of ¥500 million (prior-year period: ordinary loss of ¥233 million). Net income declined by ¥99 million, resulting in a quarterly net loss attributable to owners of the parent of ¥347 million (prior-year period: quarterly net loss attributable to owners of the parent of ¥248 million).」

「Revenue was ¥858.6 million, down 3.3% year on year (prior-year period: ¥888.0 million). In terms of earnings, operating results declined by ¥141 million, resulting in an operating loss of ¥342 million (prior-year period: operating loss of ¥201 million). Ordinary results declined by ¥146 million, resulting in an ordinary loss of ¥315 million (prior-year period: ordinary loss of ¥169 million). Net income improved by ¥45 million, resulting in a quarterly net loss attributable to owners of the parent of ¥133 million (prior-year period: quarterly net loss attributable to owners of the parent of ¥179 million).」

「Revenue was ¥344.5 million, up 18.4% year on year (prior-year period: ¥290.9 million). In terms of earnings, operating results improved by ¥379 million, resulting in an operating loss of ¥515 million (prior-year period: operating loss of ¥894 million). Ordinary results improved by ¥370 million, resulting in an ordinary loss of ¥466 million (prior-year period: ordinary loss of ¥836 million). Net income improved by ¥580 million, resulting in a quarterly net loss attributable to owners of the parent of ¥260 million (prior-year period: quarterly net loss attributable to owners of the parent of ¥840 million).」

「Revenue was ¥1,431.5 million, down 1.0% year on year (prior-year period: ¥1,446.1 million). In terms of earnings, operating results improved by ¥400 million year on year, resulting in an operating loss of ¥237 million (prior-year period: operating loss of ¥638 million). Ordinary results improved by ¥429 million, resulting in an ordinary loss of ¥233 million (prior-year period: ordinary loss of ¥662 million). Net income improved by ¥427 million, resulting in a quarterly net loss attributable to owners of the parent of ¥248 million (prior-year period: quarterly net loss attributable to owners of the parent of ¥675 million).」

「Net sales decreased 0.5% year on year to ¥8.880 billion (net sales in the same period of the previous year: ¥8.926 billion). In terms of earnings, operating results improved by ¥524 million year on year, resulting in an operating loss of ¥201 million (operating loss of ¥725 million in the same period of the previous year). Ordinary results improved by ¥554 million year on year, resulting in an ordinary loss of ¥169 million (ordinary loss of ¥723 million in the same period of the previous year). Final results improved by ¥547 million year on year, resulting in a quarterly net loss attributable to owners of the parent of ¥179 million (quarterly net loss attributable to owners of the parent of ¥726 million in the same period of the previous year).」

「Net sales increased 14.8% year on year to ¥2.909 billion (net sales in the same period of the previous year: ¥2.533 billion). In terms of earnings, operating results declined by ¥150 million year on year, resulting in an operating loss of ¥894 million (operating loss of ¥743 million in the same period of the previous year). Ordinary results declined by ¥130 million year on year, resulting in an ordinary loss of ¥836 million (ordinary loss of ¥705 million in the same period of the previous year). Final results declined by ¥184 million year on year, resulting in a quarterly net loss attributable to owners of the parent of ¥840 million (quarterly net loss attributable to owners of the parent of ¥656 million in the same period of the previous year).」

「Net sales increased 15.4% year on year to ¥26.275 billion (net sales in the same period of the previous year: ¥22.774 billion). In terms of earnings, operating results improved by ¥3.920 billion year on year, resulting in operating income of ¥688 million (operating loss of ¥3.232 billion in the same period of the previous year). Ordinary results improved by ¥3.990 billion year on year, resulting in ordinary income of ¥588 million (ordinary loss of ¥3.401 billion in the same period of the previous year). Final results improved by ¥3.294 billion year on year, resulting in net income attributable to owners of the parent of ¥555 million (net loss attributable to owners of the parent of ¥2.738 billion in the same period of the previous year).」

「As a result, overseas sales declined, but consolidated net sales increased 10.5% year on year to ¥14.461 billion because sales increased in both the broadcasting systems business and the industrial systems business in Japan (net sales in the same period of the previous year: ¥13.085 billion). In terms of earnings, in addition to the increase in net sales, the process of correcting factors related to high-cost projects that had worsened the cost of sales ratio in the same period of the previous year continued to produce results in the second quarter. The cost of sales ratio consequently improved substantially, and operating results improved by ¥1.488 billion year on year, resulting in an operating loss of ¥638 million (operating loss of ¥2.126 billion in the same period of the previous year). Ordinary results included dividend income recognized as non-operating income, but increased payment fees and other non-operating expenses resulted in an ordinary loss of ¥662 million (ordinary loss of ¥2.231 billion in the same period of the previous year). For final results, gains on sales of investment securities, gains from revisions to the retirement benefit plan and other items were recognized as extraordinary income, resulting in a quarterly net loss attributable to owners of the parent of ¥675 million (quarterly net loss attributable to owners of the parent of ¥1.950 billion in the same period of the previous year).」

「As a result, sales in the industrial systems business increased, but not enough to offset the decline in overseas sales, and consolidated net sales decreased 3.2% year on year to ¥8.926 billion (net sales in the same period of the previous year: ¥9.223 billion). In terms of earnings, although net sales declined, the process of correcting factors related to high-cost projects that had worsened the cost of sales ratio in the same period of the previous year continued to produce results in the first quarter. The cost of sales ratio therefore improved substantially, and operating results improved by ¥726 million year on year, resulting in an operating loss of ¥725 million (operating loss of ¥1.451 billion in the same period of the previous year).」

「As a result, the company expects operating income, ordinary income and net income attributable to owners of the parent to be positive for the current consolidated fiscal year.」

「For the fiscal year ending March 2018, we will accelerate the strengthening of our technological capabilities, reinforce the industrial systems business and strengthen overseas operations to overcome increasingly severe price competition and competition in product technology and development and to meet diverse customer requirements. By supplying products that meet customer requirements in each market and region in a timely manner, we will make a return to profitability our top priority and establish a sound management base capable of generating stable profits.」

「As a result, sales in North America and Europe declined, but consolidated net sales increased 2.9% year on year to ¥13.085 billion because of higher domestic sales driven by increased demand for upgrades to domestic digital high-definition facilities and other factors, as well as increased sales of broadcasting equipment, including broadcasting cameras, in Asia (net sales in the same period of the previous year: ¥12.716 billion). In terms of earnings, despite the increase in net sales, the cost of sales ratio rose because deliveries of high-cost projects affected by price competition in the market and other factors continued, as they had in the second quarter. Operating results consequently declined by ¥559 million year on year, resulting in an operating loss of ¥2.126 billion (operating loss of ¥1.567 billion in the same period of the previous year). Ordinary results were affected by the recognition of foreign exchange losses and other items as non-operating expenses because the yen had remained on an appreciating trend through the first half, resulting in an ordinary loss of ¥2.231 billion (ordinary loss of ¥1.510 billion in the same period of the previous year).」

「As a result, overseas sales declined, but consolidated net sales increased 16.9% year on year to ¥9.223 billion because domestic sales rose substantially, driven by increased demand for upgrades to domestic digital high-definition facilities and other factors (net sales in the same period of the previous year: ¥7.891 billion). In terms of earnings, despite the increase in net sales, operating results declined by ¥457 million year on year because deliveries of high-cost projects affected by price competition in the market and other factors overlapped, resulting in an operating loss of ¥1.451 billion (operating loss of ¥994 million in the same period of the previous year).」

「As a result, overseas sales excluding North America declined, but consolidated net sales increased 61.2% year on year to ¥3.901 billion because of a substantial increase in domestic sales (net sales in the same period of the previous year: ¥2.420 billion). In terms of earnings, despite the substantial increase in net sales, operating results improved by only ¥157 million year on year because deliveries of high-cost projects overlapped, resulting in an operating loss of ¥812 million (operating loss of ¥969 million in the same period of the previous year). Ordinary results were affected by the recognition of foreign exchange losses and other items as non-operating expenses, as the yen remained on an appreciating trend, resulting in an ordinary loss of ¥1.004 billion (ordinary loss of ¥866 million in the same period of the previous year).」

「While seeking to expand net sales and earnings, we also seek to establish a stable management base through quality innovation.」