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(January 28, 2011)
| Sales | Operating income(Loss) | Net Income(Loss) | |
|---|---|---|---|
| Third quarter period ended December 31, 2010 | 59,563(-17.2%) | (3,036)(-) | (3,927)(-) |
| Third quarter period ended December 31, 2009 | 71,948 | 1,591 | (704) |
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(Loss) | Net Income(Loss) | |
|---|---|---|---|
| Full year term | 92,000(-11.8%) | (2,400)(-) | (4,400)(-) |
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, due to improved corporate profits and recovering capital investment, certain segments of the Japanese economy showed signs of recovery. This was despite various factors-including continuing harsh employment conditions, yen appreciation on international currency markets, and the fading impact of economic policies-that have created conditions of economic standstill since early last fall.
In our industry, domestic demand for new construction cranes recovered, although this recovery was weak. Demand showed signs of recovery in certain overseas markets but continued to fall in the important European and North American markets.
Domestic sales were 33,483 million yen, up 9.9% from the same period of the previous fiscal year, driven by growth in sales of construction cranes, truck cranes, and aerial work platforms. Overseas sales fell significantly, by 37.1% from the same period of the previous fiscal year, to 26,080 million yen, due to declining demand and intensifying competition, as the yen rose against other currencies. Total sales fell 17.2% to 59,563 million yen. The ratio of overseas sales to total sales was 43.8%.
Despite efforts to cut total personnel costs and overhead costs, operation income showed a loss of 3,036 million yen (vs. a profit of 1,591 million yen for the same period of the previous fiscal year). This was due to a decrease in gross profits accompanying declining sales, combined with rising costs resulting from the use of higher-priced raw materials and decreased operations. Net losses for the quarter were 3,927 million yen (compared to net losses of 704 million yen for the same period of the previous fiscal year), due to a loss on investment securities of 2,063 million yen and a foreign-exchange loss of 453 million yen resulting from the rise of the yen. This loss was reported as an extraordinary loss.