Recap of Business Results
During the fiscal year just ended (FY2014: April 1, 2013 to March 31, 2014), economic conditions pointed in various directions in regions around the globe. Overseas, growth was blunted in China and other Asian emerging economies, while the United States economy recovered steadily. Europe mounted a gradual comeback beginning in summer 2013. In Japan, earnings at export-oriented companies brightened against a background of yen depreciation prompted by recovery in the United States and the Bank of Japan’s monetary-easing policy. Amid these developments, the business fields in which Advanex is involved made steady gains. In the automobile market, exports from Japan and overseas production enjoyed stable growth, as demand recovered in China and sales to North America expanded. In Japan, rush demand ahead of a rise in the consumption tax rate boosted a general recovery in demand. In the office-automation equipment (OA) market, demand was firm. Advanex benefited from robust sales in both the automotive and OA fields, and sales increased over the previous fiscal year in the audiovisual-equipment (AV) and medical-equipment spaces.
The Company’s forecast of business results for FY2015, based on an exchange rate of US$1 = ¥100, is as follows: Net sales of ¥28,000 million, a 3.3% increase from the previous fiscal year; operating income of ¥1,000 million, representing a 21.9% improvement over the previous fiscal year; a 19.4% expansion in ordinary income, to ¥980 million; and net income of ¥760 million, 11.4% higher than the figure for the previous fiscal year.