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Looking at operating income by business segment, we see that the operating income for the automobile business totaled 9.6 billion yen, down 12.3 billion yen, or 56.2%, year on year. This decline was essentially due to an unfavorable sales mix variance and foreign exchange losses caused by the appreciation of the Japanese yen despite reductions in SG&A expenses.
Operating income for the Aerospace Division rose 0.7 billion yen (a 73-fold increase) to reach 0.7 billion yen thanks to an improved sales mix variance that offset foreign exchange losses.
The Industrial Products Division also saw a 0.1 billion yen increase in operating income that brought the operating income total to 27 million yen. This uptick was largely due to increased sales of power generators, which offset foreign exchange losses.
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