First-quarter results were generally strong, due to increased revenue and profits in the Business Technologies Business.
In the first quarter of the previous fiscal year, one euro had weakened to 140 yen, which benefited the Business Technologies Business in particular. Despite the headwind of the euro at 134 yen this year, on a yen-denominated basis profits also rose and, excluding the impact of the exchange rate, increased by 11%.
On the other hand, the company has adopted IFRS reporting standards from the current fiscal year onward. Some items that would have been posted under the non-operating account or as extraordinary items under Japanese accounting standards have an impact on operating profit under IFRS. As a result, 1Q operating profit was ¥10 billion, falling by ¥4.4 billion and 30% year on year.
That result included the following special factors. First, approximately ¥2 billion in structural reform expenses was posted, relating to the special early retirement program at the Company in Japan. Also, in 1Q of the previous fiscal year there was a ¥1.5 billion gain on sales of assets resulting from the withdrawal of the glass substrate for HDDs business decided in fiscal 2013. In addition, there was a negative exchange-rate impact of ¥900 million. In total these special factors came to ¥4.4 billion.
Quarterly profit attributable to owners of the company came to ¥6.6 billion.
In the first quarter of the previous fiscal year, one euro had weakened to 140 yen, which benefited the Business Technologies Business in particular. Despite the headwind of the euro at 134 yen this year, on a yen-denominated basis profits also rose and, excluding the impact of the exchange rate, increased by 11%.
On the other hand, the company has adopted IFRS reporting standards from the current fiscal year onward. Some items that would have been posted under the non-operating account or as extraordinary items under Japanese accounting standards have an impact on operating profit under IFRS. As a result, 1Q operating profit was ¥10 billion, falling by ¥4.4 billion and 30% year on year.
That result included the following special factors. First, approximately ¥2 billion in structural reform expenses was posted, relating to the special early retirement program at the Company in Japan. Also, in 1Q of the previous fiscal year there was a ¥1.5 billion gain on sales of assets resulting from the withdrawal of the glass substrate for HDDs business decided in fiscal 2013. In addition, there was a negative exchange-rate impact of ¥900 million. In total these special factors came to ¥4.4 billion.
Quarterly profit attributable to owners of the company came to ¥6.6 billion.