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(November 11, 2008)
| Sales | Operating income | Net Income | |
|---|---|---|---|
| Second quarter period ended September 30, 2008 | 87,867 | 8,468 | 5,593 |
| Second quarter period ended September 30, 2007 | 81,807 (19.3%) | 8,052 (32.2%) | 5,447 (40.0%) |
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 | 178,000(2.1%) | 14,700(-18.2%) | 9,200(-20.8%) |
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.
During the period under review, the Japanese economy showed stronger signs of a slowdown amid growing concerns over economic stagnation as capital investment and personal consumption tailed off. Overseas, the deepening impact of the U.S. subprime loan crisis led to a clear downturn in the U.S. and European economies.
Under these circumstances, overall demand in our industry for construction cranes maintained its momentum due to replacement needs in the domestic market. In overseas markets, energy-related demand remained robust in North America, while demand also increased in Europe and the Middle East.
Given this solid demand for construction cranes in both domestic and overseas markets, the Tadano Group focused on boosting production and sales and promoting its Mid-Term Management Plan (08-10). Faced with a continuing shortage of supply, we carefully planned allocation in pursuing sales by market destination and endeavored to improve product pricing in response to the surging prices of raw materials such as metals. In procurement and production, we worked to simultaneously cut costs and increase production by maintaining a balance among suppliers, affiliated plants and our own plants amid the extreme constraints of an unstable procurement environment.
Domestic sales fell 7.2% compared with the same period of the previous fiscal year to 41,685 million yen despite an increase in sales of construction crane, as declining demand caused decreases in sales of truck loader cranes and aerial work platforms. Overseas sales rose 25.3% over the same period of the previous fiscal year to 46,182 million yen due to a considerable increase in the sales of construction cranes in the European and North American markets. As a result, total sales rose 7.4% to 87,867 million yen. In addition, the ratio of overseas sales to total sales reached a record high of 52.6%.
On the profit side, ordinary income rose 9.7% to 9,046 million yen and net income for the second quarter rose 2.7% to 5,593 million yen despite higher costs caused by the rise in raw materials prices and an increase in selling, general and administrative expenses. As a result, growth in both sales and profit reached record highs for the sixth consecutive year.