TADANO Telescopic View
News | Sitemap | Contact Us
(January 30, 2009)
| Sales | Operating income | Net Income | |
|---|---|---|---|
| Third quarter period ended December 31, 2008 | 125,192 | 10,365 | 5,659 |
| Third quarter period ended December 31, 2007 | 122,827 (22.0%) | 12,241 (39.5%) | 8,252 (41.6%) |
Notes: Listed values less than one million yen are rounded off.
Percentage figures represent comparisons to the third quarter period of the previous fiscal year.
| Sales | Operating income | Net Income | |
|---|---|---|---|
| Full year term | 160,000(-8.2%) | 10,300(-42.7%) | 5,700(-50.9%) |
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, concerns over economic stagnation intensified as exports and production decreased markedly in the latter half of the fiscal year, causing significant declines in corporate revenues and a rapid deterioration in the employment situation. 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, the outlook for our industry became severely clouded from the start of the latter half of the fiscal year, as domestic demand for construction cranes dropped due to customers’ conservative purchasing policies. In overseas markets, part of our backlogged orders were either canceled or postponed due to changes in the fund procurement environment as well as the suspension and postponement of energy-related projects.
Domestic sales fell 15.8% compared with the same period of the previous fiscal year to 54,948 million yen, as sales of construction cranes declined in the latter half of the fiscal year in addition to decreased sales of truck loader cranes and aerial work platforms. Overseas sales rose 22.0% over the same period of the previous fiscal year to 70,244 million yen due to a considerable increase in the sales of construction cranes in the European, North American and Middle Eastern markets. As a result, total sales increased 1.9% to 125,192 million yen. The ratio of overseas sales to total sales was 56.1%.
With regard to profit and loss, ordinary income fell 15.6% to 10,564 million yen due to higher costs caused by the rise in raw material prices and an increase in selling, general and administrative expenses. The company reported 815 million yen in write-down of investment securities as an extraordinary loss, and as a result net income for the nine-month period fell 31.4%, compared with the same period of the previous fiscal year, to 5,659 million yen.
Construction Cranes
The domestic market exhibited a sudden drop in demand as customers concerned with the economic outlook put off purchases. As a result, sales decreased 5.4% to 27,018 million yen compared with the same period of the previous fiscal year. In overseas markets, sales increased substantially by 30.5% to 57,763 million yen compared with the previous fiscal year due to expanded sales, primarily in Europe, North America and the Middle East. As a result, sales of construction cranes rose 16.4% to 84,781 million yen compared with the previous fiscal year.
Truck Loader Cranes
Despite efforts to expand sales by launching new models featuring enhanced mileage and quality, sales of truck loader cranes fell 19.3% to 8,887 million yen compared with the previous fiscal year due to declining demand for trucks and the additional impact of lower loading rates in the latter half of the fiscal year.
Aerial Work Platforms
Demand from the telecommunications market peaked in the first half of the previous fiscal year while demand from the rental industry fell considerably due to restrained capital investment. Under these circumstances, we managed to increase our market share as efforts to expand sales paid off. Sales of aerial work platforms nevertheless decreased by 11.9% to 8,605 million yen compared with the previous fiscal year.
Others
Sales of used cranes declined due to the rising yen and falling overseas demand, and total sales of parts, repairs, used cranes and other items decreased 8.2% to 22,917 million yen compared with the previous fiscal year.
The Tadano Group has not engaged in the pneumatic equipment business and related businesses since it sold all of its shareholdings in New Era Co., Ltd. to Nagano Keiki Co., Ltd. on April 1, 2008.