The commercial and industrial printing field posted a 2% increase in revenue over the previous year. Industrial inkjet revenues rose by 40% year on year while MPM print services rose by 2% year on year. While MPM revenues had been growing at double-digit rates, this was due to new acquisitions, especially those in the Asia-Pacific region. Acquisitions slowed in 3Q, leading to a leveling-off in sales compared to the third quarter of the previous year. However, new contracts are increasing at these new customers, resulting in a steady rise in the pipeline.
Next, in production print, sales fell by 1% over the previous year. In the same way as with office products, the main cause was the North American market. In 3Q of the previous year, there were some very large orders from the North American academic market for production print equipment, but this fiscal year saw no super-large orders of that kind. Comparing 3Q only from last year and this year, the impact of the lack of such large orders in the academic market has had an effect this year.
Next, in production print, sales fell by 1% over the previous year. In the same way as with office products, the main cause was the North American market. In 3Q of the previous year, there were some very large orders from the North American academic market for production print equipment, but this fiscal year saw no super-large orders of that kind. Comparing 3Q only from last year and this year, the impact of the lack of such large orders in the academic market has had an effect this year.