SG&A expenses for the fiscal year ended March 31, 2012 decreased by 0.5 billion yen year on year to total 44.3 billion yen. As sales decreased the SG&A expenses-to-sales ratio increased by 0.9 percentage points to 17.6%.
We expect that as sales soar during the fiscal year ending March 31, 2013 so will SG&A expenses but expect to see a lower SG&A expenses-to-sales ratio as well.
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