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(August 6, 2009)
| Sales | Operating income | Net Income | |
|---|---|---|---|
| First quarter period ended June 30, 2009 | 23,488 | 1,389 | 824 |
| First quarter period ended June 30, 2008 | 39,089 | 3,418 | 2,047 |
Notes: Listed values less than one million yen are rounded off.
| Sales | Operating income | Net Income | |
|---|---|---|---|
| Full year term | 125,000 | 4,100 | 2,200 |
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 first quarter, despite some signs of a recovery in exports and production, the outlook for the Japanese economy remained unclear, as employment and income conditions worsened and corporate revenues fell amid a significant decline in capital investment.
Under these circumstances, demand in our industry dropped dramatically, as domestic demand for construction cranes fell in the wake of customersĀf conservative purchasing policies. Demand also fell considerably in overseas markets due to changes in the fund procurement environment as well as the suspension and postponement of energy-related projects.
Domestic sales fell 54.9% to 8,004 million yen compared with the same period of the previous fiscal year, as sales of construction cranes suffered a substantial decline. Overseas sales fell 27.4% over the same period of the previous fiscal year to 15,483 million yen, as we sought to meet order backlog amid declining demand and the rising yen. As a result of the substantial decrease in sales, total sales fell 39.9% to 23,488 million yen. The ratio of overseas sales to total sales was 65.9%.
Despite Group-wide efforts to cut expenses and secure profit, ordinary income fell 60.9% to 1,465 million yen due to the sharp decline in sales. Net income for the quarter fell 59.7% compared with the same period of the previous fiscal year to 824 million yen.