Consolidated Financial Results (Fiscal Year 2007 Earnings)

Billions of yen
  FY2007 FY2006 Change
Amount %
Revenue 100.0% 2,782.5 100.0% 2,667.4 +115.1 +4.3
Pro-forma Operating Income 7.4% 207.1 5.8% 156.4 +50.7 +32.4
Structural Reform Expenses   94.1   86.0 +8.1 No data
Operating Income 4.1% 113.0 2.6% 70.4 +42.6 +60.5
Income before Income Taxes 3.7% 103.2 3.0% 79.6 +23.6 +29.7
Net Income 1.2% 34.4 1.4% 37.0 (2.6) (6.9)
Capital Expenditure*   165.2   179.8 (14.6) (8.1)
Depreciation & Amortization   215.4   225.4 (10.0) (4.4)
R&D Expenses 6.4% 177.0 6.8% 182.1 (5.1) (2.8)
Exchange Rate: US$ ¥117 ¥113 +¥4
Euro ¥149 ¥138 +¥11
  • *Note:Figures do not include amounts for rental equipment handled by the Document Solutions segment.


Regarding consolidated revenue during the period under review (April 1, 2006, through March 31, 2007), despite a decrease in Imaging Solutions sales, a large increase was recorded in Information Solutions and Document Solutions sales also grew, reflecting robust sales in overseas markets. Such positive factors-together with the positive effect of the progressive depreciation of the yen against the dollar and the euro-boosted consolidated revenue, to ¥2,782.5 billion, a rise of 4.3% from the previous fiscal year.


Operating income was negatively affected by such factors as the cost-boosting impact of a surge in the prices of principal raw materials as well as the expenses associated with the concentrated implementation of structural reform programs begun in the previous fiscal year and continued through the fiscal year under review and the ¥94.1 billion in expenses associated with the Groupwide implementation of the “Slim & Strong Drive” (S&S Drive) cost reform program begun in the latter half of the fiscal year under review. However, these factors were more than offset by a rise in the entire sales volume and a decrease in fixed costs, which enabled an improvement in gross profit. Consequently, operating income grew considerably-by 60.5%, to ¥113.0 billion.

Despite the negative impact resulting from recognition of a decline in the value of investment securities related to the Imaging Solutions business, income before income taxes increased 29.7%, to ¥103.2 billion. Net income declined 6.9%, to ¥34.4 billion, reflecting a rise in income taxes due to the recording of the part of restructuring charges not deductible for tax purposes and other factors.

Consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America.

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