Net sales in the production print field grew from a level of roughly ¥100.0 billion in FY2012 to ¥154.6 billion in FY2014, for a 22% average annual rate of growth. The entire increase in net sales is attributable to organic growth. From FY2013 through FY2014, the average annual rate of growth amounted to 10% and the proportion of color machines rose to 64% due to steady increases in the number of color machines in the field (MIF), which was partially attributable to favorable effects of new products. This has resulted in 15% growth in color printing volume, thereby significantly underpinning sales results as well as the Company's profitability gains.
Although not shown in these presentation materials, organic growth with respect to production print hardware increased by 9.6% on a local currency basis, excluding effects of foreign exchange. This increase is double that of FY2013, which brought an increase of 4.8% over results of FY2012. Non-hardware sales have increased by 11.7% on a local currency basis. Increases in non-hardware sales have also been picking up steam, compared with the 9.0% increase in FY2013 over FY2012.
Whereas in the past, hardware sales centered on the light production print field, the introduction of new bizhub PRESS C1100 units in the high-speed, mid segment have greatly contributed to hardware sales amounts and print volumes.