Net sales have been steadily recovering from the fourth quarter of the fiscal year ended March, 2009. In the second quarter of the fiscal year ending March 2011, net sales were up 2.8% to 69.8 billion yen from the previous quarter. Sales of ball bearings, LED backlights, various motors and other products have expanded this quarter despite the negative impacts from the stronger Japanese yen.
Based on certain assumptions, we estimate the currency impact on net sales was rather large, approximately a negative 3.9 billion yen, compared to the previous quarter, and approximately a negative 5.2 billion yen from the same period of the last fiscal year. For the first half, it was 6.9 billion yen compared to the same period last year.
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