Latest Business Results

Business Results

(million of yen)

2017/12

2018/12

Increase/ Decrease

Increase/ Decrease

Net Sales

60,496

61,815

1,319

2.2%

Operating Income

4,246

5,424

1,178

27.7%

Ordinary Income
4,100
5,877
1,777
43.4%
Net Income

2,838

4,330

1,491

52.5%

For the fiscal year ended December 31, 2018, the global economy was on a moderate upward trend overall. In the second half, a sense of economic slowdown and uncertainty mounted amid intensifying trade disputes between the United States and China, the weakening of China’s economic growth becoming apparent, and the deterioration of European economies. On a region-by-region basis, the United States attained steady economic progress following a rise in consumer spending after improvements in the employment and income situations and the positive impact of the taxation reform. Meanwhile, Europe’s exports were stagnant despite strong internal demand. The Chinese economy slowed after a downturn in consumer spending and fixed asset investment. Japan achieved a minor turnaround, due in part to the improved job market situation.


Among the markets related to the Tamron Group, the digital camera market enjoyed strong sales of mirrorless models but saw a shrinkage of SLR camera sales. The sales quantity of interchangeable-lens cameras fell 8% year on year. With regard to interchangeable lenses, the sales quantity dipped 6% year on year, but the sales value rose 1% year on year after brisk sales of high image quality models for full-size cameras. The sales volume of compact digital cameras fell considerably by 35% year on year, while the markets of surveillance cameras and automotive cameras continued to expand.


According to the average foreign exchange rates, the U.S. dollar was down by around 2 yen and the euro was up by around 4 yen against the Japanese yen year on year. Under these circumstances, the Tamron Group attained sales growth in all its segments for the consolidated fiscal year under review. Net sales stood at 61,815 million yen, up 2.2% year on year.


Operating income rose 27.7% year on year to 5,424 million yen, ordinary income was up 43.4% to 5,877 million yen, and profit attributable to owners of parent jumped 52.5% to 4,330 million yen. The Group achieved an increase in both sales and profit for the second consecutive fiscal year as well as a massive rise in profitability after the gross profit margin hit a new record high for the second straight fiscal year. This was partly thanks to the effect of introducing new own-brand interchangeable lens products and after we were able to minimize the hike in selling, general and administrative expenses.


For details, please refer to
Financial Results.