Operating results for three months between October and December are presented on the left side of the table. The results for the first nine months between April through December are shown on the right side. Today, I would like to focus mainly on results for the latest three months.
Net sales fell ¥1.4 billion from the previous fiscal year, to ¥182.0 billion. The yen was approximately ¥5 stronger against the US dollar and ¥8 stronger against the euro during the period under review, compared with the levels in the year-ago period. The negative impact of this appreciation for us was ¥8.4 billion. Excluding the impact from the strong yen, net sales rose 4% on a local currency basis.
The gross margin improved approximately 2 percentage points year on year. Gross income increased ¥2.7 billion, given an improvement in the profitability in the Business Technologies Business, the Optics Business, and the Sensing Business, offsetting the effects of lower sales.
Operating income rose ¥2.0 billion, or 36%, from the same period in the previous fiscal year. Excluding a negative impact of ¥2.6 billion from fluctuations in foreign exchange rates, income effectively rose more than 80%. The operating margin also improved 1 percentage point.
Net income declined ¥0.5 billion, to ¥1.6 billion. The main reason for this was the recording of extraordinary losses of approximately ¥1.2 billion in expenses related to the structural reforms carried out in the domestic sales division of the Business Technologies Business, and an increase in the tax burden, with approximately ¥1.5 billion mainly from the reversal of deferred tax assets, as a result of the revision to the income tax system.
Net sales fell ¥1.4 billion from the previous fiscal year, to ¥182.0 billion. The yen was approximately ¥5 stronger against the US dollar and ¥8 stronger against the euro during the period under review, compared with the levels in the year-ago period. The negative impact of this appreciation for us was ¥8.4 billion. Excluding the impact from the strong yen, net sales rose 4% on a local currency basis.
The gross margin improved approximately 2 percentage points year on year. Gross income increased ¥2.7 billion, given an improvement in the profitability in the Business Technologies Business, the Optics Business, and the Sensing Business, offsetting the effects of lower sales.
Operating income rose ¥2.0 billion, or 36%, from the same period in the previous fiscal year. Excluding a negative impact of ¥2.6 billion from fluctuations in foreign exchange rates, income effectively rose more than 80%. The operating margin also improved 1 percentage point.
Net income declined ¥0.5 billion, to ¥1.6 billion. The main reason for this was the recording of extraordinary losses of approximately ¥1.2 billion in expenses related to the structural reforms carried out in the domestic sales division of the Business Technologies Business, and an increase in the tax burden, with approximately ¥1.5 billion mainly from the reversal of deferred tax assets, as a result of the revision to the income tax system.