In the Industrial Business, net sales and operating income both decreased. As was shown in slide 5 with the year-on-year increases and decreases in net sales and operating income by segment (first half and second quarter), the extent of year-on-year declines in sales and profit eased in the second quarter compared with the first quarter.
Looking at an analysis of the year-on-year increase/decrease in operating income, although we normally expect the increase in volumes to cover the impact of price erosion, unfortunately volumes decreased in the first half.
I will explain the sales condition of each product on the next page as background to this.