Consolidated business results for the third quarter of the fiscal year ending March 31, 2012, saw net sales drop by 16.0% from the previous quarter to reach 56,716 million yen, while a sharp 84.8% quarter on quarter decline brought operating income down to 850 million yen.
Net income fell to negative 3,055 million yen, due mainly to a 2 billion yen Loss on Disaster from flooding that shut down some of our Thai factories and a 1.1 billion yen Business Restructuring Loss and others in our keyboard business.
Flooding in Thailand disrupted supply chains and delivered a severe blow to our bottom line. We estimate losses of 11.1 billion yen in sales and 3.9 billion yen in operating income for this quarter. If you factor in the Loss on Disaster totaling 2 billion yen, we really lost a total of 5.9 billion.
We estimate a year-on-year foreign exchange loss of 2.8 billion yen in net sales and a gain of 0.3 billion yen in operating income based on certain assumptions.
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