August 21, 2014,14:15 +0900(JST) Business Results for the First Quarter of FY 2014
On July 31, we announced our business results for the first quarter (April-June) for the first quarter of fiscal 2014 as follows: sales of 638.2 billion yen; operating income of 21.8 billion yen; ordinary income of 29.8 billion yen; and net income of 26.9 billion yen. We achieved an increase in both revenue and profit compared with the same period of the previous year. However, there were differences in the results among our various business groups. I instructed each business group to once again analyze the relevant factors and take appropriate measures.
The following day I attended a Partners’ Meeting, to which we invited our business partners who always support us in the procurement of materials and equipment. As in previous years, the meeting again drew many participants from both Japan and overseas. This year marked the seventh anniversary of this event. Every time I attend a Partners’ Meeting I keenly realize that we receive support and cooperation from many partners.
At the party held after every meeting, the participants let me know some useful information on various topics, or give me lectures. All this serves as an invaluable barometer for the future of the Sumitomo Electric Group. This year, the participants generally seemed to be in a cheerful mood, making me feel confident about our future.