Coexistence of Higher Revenue and Lower Profit

「As a result, net sales and each profit measure increased for the fifth consecutive period, all reaching record highs.」

「As a result, although orders received declined slightly to ¥62,951 million (99.7% of the year-earlier period), net sales increased substantially to ¥64,826 million (114.5%), as the abundant order backlog was generally recognized as revenue on schedule, setting a new record for first-half results. In terms of earnings, higher revenue increased gross profit to ¥9,909 million (112.1% of the year-earlier period), resulting in substantial increases in each profit measure. These profit measures also reached first-half record highs.」

「Net sales also increased accordingly. As the abundant order backlog was generally recognized as revenue on schedule, net sales substantially exceeded the previous fiscal year, setting a record high for the third consecutive year. In terms of earnings, higher revenue increased gross profit, which in turn lifted each profit measure, resulting in record highs.」

「Regarding the operating results of the Group for the interim consolidated accounting period, net sales increased slightly to ¥56,600 million (101.3% of the year-earlier period). This was due to factors including a slight decline in revenue caused by delays in the delivery timing of customer equipment compared with the initial sales forecast. In terms of earnings, operating income declined slightly to ¥2,566 million (97.3% of the year-earlier period), ordinary income to ¥2,795 million (98.4%), and interim profit attributable to owners of the parent to ¥1,888 million (98.0%). Although the increase in revenue led to higher gross profit, the increase in selling, general and administrative expenses resulted in slight declines from the year-earlier period.」

「As a result, orders received, order backlog, and net sales reached record highs. In terms of earnings, despite increased expenses associated with greater order-taking activity and spending on office renovations, each profit measure exceeded the previous fiscal year.」

「Regarding the operating results of the Group for the cumulative third quarter consolidated period, net sales increased to ¥83,139 million, or 105.7% of the year-earlier period, as the abundant order backlog was generally recognized as revenue on schedule. In terms of earnings, operating income rose to ¥3,889 million (108.0% of the year-earlier period), ordinary income to ¥4,223 million (107.6%), and profit attributable to owners of the parent to ¥2,890 million (109.8%), all exceeding the year-earlier period and resulting in revenue and earnings growth.」

「Regarding the operating results of the Group for the cumulative second quarter consolidated period, net sales increased to ¥55,893 million, or 108.0% of the year-earlier period, as the abundant order backlog was generally recognized as revenue on schedule. In terms of earnings, operating income rose substantially to ¥2,636 million (116.3% of the year-earlier period), ordinary income to ¥2,841 million (115.8%), and profit attributable to owners of the parent to ¥1,927 million (116.9%), each significantly exceeding the initial forecast.」

「Regarding the operating results of the Group for the cumulative first quarter consolidated period, net sales increased to ¥26,103 million, or 114.3% of the year-earlier period. In terms of earnings, in addition to the increase in net sales, partly as a result of keeping expenses to the minimum necessary, operating income rose to ¥1,277 million (156.0% of the year-earlier period), ordinary income to ¥1,453 million (149.2%), and profit attributable to owners of the parent to ¥1,011 million (151.0%), all exceeding the year-earlier period and resulting in revenue and earnings growth.」

「Regarding the operating results of the Group for the cumulative third quarter consolidated period, net sales increased substantially to ¥78,634 million, or 118.4% of the year-earlier period. In terms of earnings, operating income rose substantially to ¥3,599 million (135.3% of the year-earlier period), ordinary income to ¥3,924 million (130.5%), and profit attributable to owners of the parent to ¥2,632 million (132.1%), resulting in revenue and earnings growth.」

「Regarding the operating results of the Group for the cumulative second quarter consolidated period, net sales increased to ¥51,737 million, or 116.7% of the year-earlier period. In terms of earnings, operating income rose substantially to ¥2,267 million (122.9% of the year-earlier period), ordinary income to ¥2,452 million (119.9%), and profit attributable to owners of the parent to ¥1,649 million (121.6%), resulting in revenue and earnings growth.」

「Regarding the operating results of the Group for the cumulative first quarter consolidated period, net sales increased to ¥22,830 million, or 108.5% of the year-earlier period. In terms of earnings, in addition to the increase in net sales, partly as a result of keeping expenses to the minimum necessary, operating income rose to ¥819 million (100.8% of the year-earlier period), ordinary income to ¥974 million (102.0%), and profit attributable to owners of the parent to ¥669 million (103.4%), all exceeding the year-earlier period and resulting in revenue and earnings growth.」

「Net sales also increased accordingly. In terms of earnings, in addition to the increase in net sales, partly as a result of keeping expenses to the minimum necessary, each profit measure exceeded the year-earlier period, resulting in revenue and earnings growth.」

「Regarding the operating results of the Group for the cumulative third quarter consolidated period, orders received increased substantially from the year-earlier period, reflecting an order for polarizer production equipment in China and increased order-taking activity across the Group. Net sales increased slightly to ¥66,397 million, or 102.1% of the year-earlier period, indicating a recovery trend. In terms of earnings, partly as a result of limiting the increase in expenses to the minimum necessary, operating income rose to ¥2,660 million (114.4% of the year-earlier period), ordinary income to ¥3,005 million (107.4%), and profit attributable to owners of the parent to ¥1,992 million (105.7%), all exceeding the year-earlier period.」

「Net sales increased slightly to ¥44,337 million, or 101.4% of the year-earlier period, indicating a recovery trend. In terms of earnings, partly as a result of limiting the increase in expenses to the minimum necessary, operating income rose to ¥1,844 million (117.7% of the year-earlier period), ordinary income to ¥2,045 million (110.2%), and profit attributable to owners of the parent to ¥1,355 million (108.0%), all exceeding the year-earlier period.」

「Regarding the operating results of the Group for the cumulative first quarter consolidated period, sales activities remained subject to restrictions to prevent the spread of infection, but activities gradually picked up, mainly in Japan. As a result, net sales increased to ¥21,036 million, or 109.4% of the year-earlier period. In terms of earnings, operating income increased to ¥812 million (161.1% of the year-earlier period), ordinary income to ¥954 million (145.4%), and profit attributable to owners of the parent to ¥647 million (146.2%), partly due to continued thorough cost reductions.」

「Regarding the operating results of the Group for the cumulative third quarter consolidated period, restrictions and voluntary curtailment of direct visits to companies by the sales division had to continue to prevent the spread of infection. Although sales activities were conducted using alternative measures such as teleworking, companies' appetite for capital investment had not recovered. In addition, delivery of the large liquid-crystal display-related manufacturing equipment recorded in the year-earlier period was largely completed, while deliveries in the current period were minimal. As a result, net sales fell substantially to ¥65,004 million, or 81.6% of the year-earlier period. In terms of earnings, despite thorough cost reductions, the decline in gross profit could not be fully offset, and operating income fell substantially to ¥2,326 million (53.2% of the year-earlier period), ordinary income to ¥2,798 million (59.6%), and profit attributable to owners of the parent to ¥1,885 million (60.1%).」

「Regarding the operating results of the Group for the cumulative second quarter consolidated period, direct visits to companies by the sales division had to be restricted and voluntarily curtailed to prevent the spread of infection. Although sales activities were conducted using alternative measures such as teleworking, companies' appetite for capital investment had not recovered. In addition, delivery of the large liquid-crystal display-related manufacturing equipment recorded in the year-earlier period was largely completed. As a result, net sales fell substantially to ¥43,716 million, or 76.4% of the year-earlier period. In terms of earnings, despite thorough cost reductions, the decline in gross profit could not be fully offset, and operating income fell substantially to ¥1,567 million (50.9% of the year-earlier period), ordinary income to ¥1,855 million (56.5%), and profit attributable to owners of the parent to ¥1,255 million (57.9%).」

「In addition to restricting and voluntarily refraining from direct visits to customers by the sales division to prevent the spread of infection, sales of liquid-crystal-display manufacturing equipment, which had been recorded at a high level in the same period of the previous year, amounted to only a small amount in the current period. As a result, net sales fell significantly to ¥1,923.0 million, or 73.2% year on year. In terms of profit, although the company reduced personnel expenses and implemented thorough expense reductions, it was unable to offset the decline in gross profit, resulting in operating income of ¥504 million, or 42.9% of the previous year's level; ordinary income of ¥656 million, or 48.8%; and profit attributable to owners of the parent of ¥443 million, or 51.7%, all representing significant declines.」

「The group's net sales for the nine-month period ended ... were ¥7,961.9 million, or 103.0% of the same period of the previous year, as the high level of the group's order backlog was steadily converted into sales. Reflecting this trend of higher sales, operating income was ¥4,373 million, or 105.7% of the previous year's level; ordinary income was ¥4,694 million, or 104.7%; and profit attributable to owners of the parent was ¥3,136 million, or 102.9%, with all measures increasing. Net sales and all profit measures also reached record highs.」

「The group's net sales for the six-month period ended ... were ¥5,719.7 million, or 107.1% of the same quarter of the previous year, as private-sector capital investment demand outside the semiconductor-related industries did not decline as much as expected, the group's order backlog was steadily converted into sales, and construction on large orders progressed faster than initially expected. Reflecting this trend of higher sales, operating income was ¥3,078 million, or 108.8% of the previous year's level; ordinary income was ¥3,287 million, or 108.7%; and profit attributable to owners of the parent was ¥2,169 million, or 106.1%, with all measures increasing. Net sales and all profit measures also reached record highs.」

「The group's net sales for the three-month period ended ... were ¥2,628.5 million, or 124.8% of the same quarter of the previous year, representing a significant increase, as large orders for polarizer production equipment were steadily recognized as revenue and the order backlog at the end of the previous fiscal year was steadily converted into sales. Reflecting this increase in sales, operating income rose to ¥1,176 million, or 188.4% of the previous year's level; ordinary income to ¥1,345 million, or 165.0%; and profit attributable to owners of the parent to ¥856 million, or 157.0%.」

「As a result, net sales exceeded the long-awaited ¥10 billion mark, and all profit measures significantly exceeded the levels in the same period of the previous year. Including orders received, each of these measures reached a record high for the second consecutive period.」

「As a result, the group's net sales for the nine-month period ended ... were ¥7,730.0 million, up 11.1% from the same quarter of the previous year. Operating income increased 81.2% to ¥4,136 million, ordinary income increased 73.8% to ¥4,482 million, and profit attributable to owners of the parent increased 75.5% to ¥3,048 million.」

「As a result, the group's net sales for the six-month period ended ... were ¥5,338.6 million, up 14.7% from the same quarter of the previous year. Operating income increased 72.5% to ¥2,829 million, ordinary income increased 67.1% to ¥3,022 million, and profit attributable to owners of the parent increased 66.5% to ¥2,044 million. The increases in sales and profit were mainly attributable to progress in the manufacture of machinery and equipment under large orders, which increased revenue recognized under the percentage-of-completion method, as well as steady growth in group-wide sales during the first half.」

「As a result, the group's net sales for the three-month period ended ... were ¥2,106.4 million, down 7.3% from the same quarter of the previous year. Operating income, ordinary income and profit attributable to owners of the parent were ¥624 million, or 76.8% of the previous year's level; ¥815 million, or 85.3%; and ¥545 million, or 83.5%, respectively. Although net sales and all profit measures started below the levels in the same quarter of the previous year, the company expects to achieve results at the same level as the previous year in the six-month period.」

「As a result, orders received and net sales significantly exceeded the levels in the same period of the previous year, and profit also significantly exceeded the previous year's level. Orders received, net sales and all profit measures reached new record highs.」

「As a result, the increase in orders received and net sales from the previous fiscal year continued, and both steadily exceeded the levels in the same period of the previous year. Profit also significantly exceeded the previous year's level due to higher gross profit resulting from increased sales and higher profit margins. Results for the nine-month period ended ... were: Net sales ¥6,954.9 million (111.8% year on year) Operating income ¥2,282 million (152.5% year on year) Ordinary income ¥2,578 million (150.7% year on year) Profit attributable to owners of the parent ¥1,736 million (159.9% year on year)」

「As a result, orders received and net sales exceeded the levels in the same period of the previous year, while profit also significantly exceeded the previous year's level, as the increase in sales raised gross profit and large, high-margin projects contributed to sales.」

「As a result, orders received and net sales exceeded the levels in the same period of the previous year, while profit also significantly exceeded the previous year's level, as the increase in sales raised gross profit and large, high-margin projects contributed to sales. For the three-month period ended ... , net sales were ¥2,272.8 million, or 120.6% year on year; operating income was ¥813 million, or 752.6%; ordinary income was ¥955 million, or 443.2%; and profit attributable to owners of the parent was ¥653 million, or 459.0%.」

「As a result, orders received increased steadily from the previous fiscal year. Net sales also exceeded the previous fiscal year's level on a consolidated basis, despite some weakness in overseas markets such as emerging Asian countries, as domestic capital investment demand across industries remained firm. In terms of profit, thorough profitability management in equipment construction resulted in increases in both operating income and ordinary income from the previous fiscal year. In addition, although anniversary project expenses were recorded as an extraordinary loss because the company celebrated its 100th anniversary during the fiscal year, profit attributable to owners of the parent increased from the previous fiscal year due in part to a reduction in deferred income taxes, reaching a record high on a consolidated basis.」

「As a result, orders received steadily exceeded the level in the same period of the previous year. Net sales declined slightly from the same period of the previous year due to the effects of certain equipment construction projects being pushed back to the fourth quarter or later and the completion of overseas capital investment demand. In terms of profit, thorough profitability management in equipment construction and reductions in selling expenses resulted in increases in operating income and ordinary income from the same period of the previous year. In addition, because the company celebrated its 100th anniversary during the period and had conducted commemorative activities since September of the previous year, related expenses were recorded as an extraordinary loss, resulting in a decrease in profit attributable to owners of the parent from the same period of the previous year.」

「Net sales declined slightly due to the effects of certain equipment construction projects being pushed back to the second half and the completion of overseas capital investment demand. In terms of profit, thorough profitability management in equipment construction and reductions in selling expenses resulted in increases in operating income, ordinary income and profit attributable to owners of the parent from the same period of the previous year.」

「As a result, both orders received and net sales exceeded the levels in the same period of the previous year. In terms of profit, however, despite efforts to reduce expenses, operating income, ordinary income and profit attributable to owners of the parent all decreased from the same period of the previous year, mainly due to an increase in cost of sales.」