OREANDA-NEWS. April 27, 2012. The main points of consolidated business performance for the year ended March 31, 2012 are as follows. 

As explained in the announcement of a revision (dated April 10, 2012) of the consolidated financial results forecast for the year ended March 31, 2012, in addition to decreased sales in core areas such as Audio-Visual and Communication Equipment and LCDs, a reversal of deferred tax assets and business restructuring charges resulted in both an operating loss and net loss in fiscal 2011.

Although the difficult business environment which we experienced in fiscal 2011, will likely continue in the first half of fiscal 2012, leading to continuous losses during the period, we will aim for a return to profitability in the second half of the year through a business recovery centering on mobile LCDs.

 Net sales were 2,455.8 billion yen, down 18.7% compared to the previous year and the operating loss was 37.5 billion yen.

The net loss was 376.0 billion yen, due to restructuring charges and the reversal of deferred tax assets, both of which exceeded 100.0 billion yen. These were approximately in line with our revision to the financial forecast announced on April 10, 2012.