Operating income decreased 16.4% for Omron
Operating income decreased 16.4 percent compared with the previous fiscal year to JPY 40,136 million with the impact of the strong yen, high raw material costs and other factors. Income before income taxes was JPY 33,547 million, a decrease of 19.5 percent year on year, and net income attributable to shareholders was JPY 16,389 million, down 38.8 percent year on year.Economic conditions in the Japanese economy were challenging overall despite signs of recovery in some sectors, as corporate production activities and consumer spending dropped due to the Great East Japan Earthquake that occurred in March 2011. In overseas economies, a credit tightening policy in China, a persistently high unemployment rate in the United States and financial instability in Europe, together with flooding in Thailand in October, led to a growing perception of a global slowdown despite growth in emerging markets.The average exchange rates for the year ended March 31, 2012 were USD 1 = JPY 79.3 and EUR 1 = JPY110.3. ForecastFor the fiscal year ending March 31, 2013, the Omron Group forecasts net sales of JPY 650.0 billion, operating income of JPY 46.0 billion, income before income taxes of JPY 43.0 billion, and net income attributable to shareholders of JPY 28.5 billion. The assumed exchange rates are USD1 = JPY 78 and EUR1 = JPY 104.