Latest Business Results

Business Results

（million of yen）

	2022/12	2023/12	Increase/ Decrease	Increase/ Decrease(%)
Net Sales	63,445	71,426	7,980	12.6%
Operating Income	11,038	13,607	2,568	23.3%
Ordinary Income	11,496	13,972	2,475	21.5%
Net Income	8,350	10,812	2,461	29.5%

　The global economy in the current consolidated fiscal year remains uncertain, marked by the prolonged Russia-Ukraine conflict, armed conflicts between Israel and Palestine, challenges in China’s real estate development investments, energy issues, global high inflation, and various countries implementing high-interest rate policies.

　In the United States, the increase in policy interest rates has dampened corporate economic activities, resulting in sluggish housing investment and a deceleration in capital expenditure. However, individual consumption has remained robust, supported by a favorable employment situation and a rebound in post-pandemic consumption in the service industry.

　Europe, facing continuous financial tightening due to inflation pressures, experienced a decline in housing and capital investments, a decrease in personal consumption along with rising prices and continued economic stagnation.

　In China, despite a rapid recovery at the beginning of the year, following the lifting of the Zero-COVID policy, the rebound demand in services such as goods, dining, and tourism subsided. Employment challenges and income constraints led to sluggish individual consumption, and a significant reduction in real estate development investments contributed to an overall economic slowdown.

　Japan witnessed the normalization of economic activities from the pandemic, with inbound demand recovering to pre-pandemic levels. Personal consumption showed signs of recovery in service-related spending such as accommodation and dining. Employment conditions and income environments improved gradually, and capital investments increased against the backdrop of high corporate earnings.

　In our group’s relevant markets, the interchangeable lens camera market saw a slight increase in both quantity and value compared to the previous period. Notably, SLR cameras experienced a significant decrease of nearly 40% in both quantity and value, while mirrorless cameras increased by approximately 20% in quantity and 10% in value. Interchangeable lenses remained relatively stable in quantity and showed a slight increase in value, driven by continued demand for high-value-added products.

　The average exchange rates showed a depreciation of about 9 yen against the US dollar and approximately 14 yen against the Euro compared to the previous period.

　Against the backdrop, with the impact of inventory adjustments on the camera manufacturers' end, our group’s financial performance in the current consolidated fiscal year saw challenges in the surveillance and FA business. However, sales in the mainstay photography-related business and the mobility & healthcare business, primarily focused on the automotive industry, performed well. In addition, the positive impact of yen depreciation contributed to the sales of 71.426 billion yen (12.6% increase compared to the previous period).

　On the profit end, the photography-related business with a high gross profit margin and the mobility and healthcare segment led by the automotive business, performed well. Efforts to reduce costs contributed to an improvement in the gross profit margin led to an operating profit of 13.67 billion yen (23.3% increase compared to the previous period), an ordinary profit of 13.972 billion yen (21.5% increase compared to the previous period), and a net profit attributable to the parent company shareholders of 10.812 billion yen (29.5% increase compared to the previous period).

　We successfully exceeded previous benchmarks by a significant margin in each profit category, operating profit, ordinary profit, and net profit for the current period attributable to the parent company’s shareholders.

For details, please refer to Financial Report.