During the business year ending March 31, 2018, Japan’s economy continued its modest recovery thanks to improved corporate performance and increased capital investment. Meanwhile, uncertainty prevailed over the global economy, with changes in the United States’ policy management and rising geopolitical risks on the Korean Peninsula and in the Middle East. Nonetheless, the United States continued its steady economic recovery and an economic turnaround was evident in the Asian region.
Against this backdrop, the Group made efforts to accomplish targets spelled out in Medium-term Management Plan V120 in fiscal 2017, the final year of the three-year plan. The Group concentrated on sharpening the competitive edge of its products to steadily build up the earnings base of its domestic infrastructure business and expand its overseas business in step with economic growth in emerging economies.
As a result, the Group registered \241.832 billion in consolidated sales, up 9.9% over the previous business year. Operating income grew 28.6% year-on-year to \11.381 billion, while ordinary income increased by 21.7% to \9.992 billion. Net income attributable to the parent company was \7.064 billion, up 23.0% over the previous year.
In 2018, the Group compiled its Medium-term Management Plan 2020, a phase during which we will take a “powerful step.” Amid a rapidly changing business environment, the Group aims to continue growing by expanding the scale of its growth businesses such as substations for overseas railways and automobile-related operations and by creating new value through the use of technologies associated with the Internet of Things (IoT) and artificial intelligence (AI).
We would like to thank shareholders again for your continued support.