Operating income for the second quarter increased 5.3% from the first quarter to 6.3 billion yen as steady recovery has continued.
In addition to increases in sales volumes for a variety of products, declining unit production costs in ball bearings due to increased production volume also contributed to operating income. Positive impacts from reduced SG&A expenses also continued, which we will explain later. As a result, operating margin improved by 0.2 percentage points compared to the first quarter, to 9.1%.
Based on certain assumptions, we estimate the currency impact on operating income was approximately a negative 0.3 billion yen compared to the previous quarter, and approximately a negative 1.1 billion yen compared to the same period of the last fiscal year.
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