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- Message from the President
First of all, I would like to express my appreciation for your ongoing support of IBIDEN Co., Ltd., and the companies of the IBIDEN Group.
During the first and the second quarter of this fiscal year, the Japanese economy showed partial signs of recovery, as production of automobiles and household electronics rebounded owing to an increase in exports to emerging economies as well as government economic stimulus policies. Nonetheless, uncertainties about the economic future have intensified as capital investment declined, the job market stagnated, and the yen rapidly appreciated.
Amid these uncertainties, the IBIDEN Group has concentrated on building a solid revenue base by relentlessly pursuing customer satisfaction and boosting productivity in line with our consolidated mid-term management plan. We also have taken steps to strengthen our competitiveness in the global market, such as accelerating development and mass production of new products and streamlining capital investment.
As a result, cumulative consolidated net sales for the first two quarters amounted to 131,230 million yen, down 53,937 million yen (29.1%) from the same quarters of the previous fiscal year. Consolidated operating income amounted to 8,287 million yen, down 10,448 million yen (55.8%). Consolidated ordinary income amounted to 6,063 million yen, down 14,500 million yen (70.5%). Cumulative consolidated net income for the quarters amounted to 4,820 million yen, down 7,184 million yen (59.8%).
It is still too soon to be optimistic about the revenue environment facing the IBIDEN Group. Nevertheless, we at IBIDEN will work together as a unified team and maintain our focus on strengthening our revenue base, cultivating new businesses, and developing new products. By doing so we will restore profitability and restore our growth to the future.
Lastly I would like to thank all of our shareholders and investors for your continued support.
November, 2009
President & CEO