Consolidated Financial Results: 3rd Quarter Fiscal 2009 Earnings

Billions of yen
  9 Months FY2008/3
(Apr. - Dec. 2007)
9 Months FY2009/3
(Apr. - Dec. 2008)
Change
Amount %
Revenue 100.0% 2,137.4 100.0% 1,904.2 (233.2) (10.9)
Operating Income * 8.3% 178.0 4.3% 82.5 (95.5) (53.6)
Income before Income Taxes 8.7% 185.5 3.0% 56.3 (129.2) (69.6)
Net Income 4.9% 103.9 1.5% 29.5 (74.4) (71.6)
Earnings per Share ¥203.80 ¥58.64 ¥(145.16)
Exchange Rate: US$ ¥117 ¥103 ¥(14)
Euro ¥163 ¥151 ¥(12)
* Including structural reform expenses : 9 months FY2008/3: 9.7    9 months FY2009/3 7.0   

Revenue

The Company's consolidated revenue declined to ¥1,904.2 billion, or 10.9% below the level in the same period of the previous fiscal year.

The sharp appreciation of the yen was one of the main reasons for this decline. Another main factor was the continued decrease in sales of such Imaging Solutions offerings as color films and digital cameras. Moreover, since the worldwide recession began in September, we have seen large decreases in revenues of the Information Solutions segment and the Document Solutions segment. We have even seen a decline in sales of the Information Solutions segment's FPD materials, which had been growing smoothly during the first half of the fiscal year.

The portion of the ¥233.2 billion decrease in revenue attributable to exchange rate changes was approximately ¥109.2 billion.

Income

Consolidated operating income totaled ¥82.5 billion, down 53.6% from the same period in the previous fiscal year.

Looking at the ¥95.5 billion decrease in operating income, such factors as drops in sales volume and selling prices caused approximately ¥62.0 billion of that decrease and approximately ¥21.0 billion of the decrease was due to yen appreciation and approximately ¥12.5 billion of the decrease was due to surging prices of silver and other main raw materials.

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

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