Sales growth in the Business Technology Business was sluggish as demand slowed after Lehman Brothers collapsed, but sales in the U.S. and Europe (on a local currency basis) exceeded pre-Lehman shock levels to reach a record high in the fiscal year ended in March 2012.
Sales in Japan and China also recorded record highs.
In particular, sales declined in southern Europe in the office segment as a result of the fiscal crisis in Europe, but sales were strong in central, eastern and northern Europe, where the Company has a strong sales base. This can be attributed to stronger sales achieved using the OPS (Optimized Print Services) approach and new Global Major Account (GMA) acquisitions. In addition, sales in production print systems, a growth area, grew significantly and drove sales gains in the Business Technology Business overall.
Sales in Japan and China also recorded record highs.
In particular, sales declined in southern Europe in the office segment as a result of the fiscal crisis in Europe, but sales were strong in central, eastern and northern Europe, where the Company has a strong sales base. This can be attributed to stronger sales achieved using the OPS (Optimized Print Services) approach and new Global Major Account (GMA) acquisitions. In addition, sales in production print systems, a growth area, grew significantly and drove sales gains in the Business Technology Business overall.