Wacoal net sales up 1.4% for fiscal year ended March 31, 2007
12 May '07
3 min read
Financial Highlight: Net sales for the year increased 1.4 percent on a yen basis to 166.4 billion yen ($1,415.5 million), compared to 164.1 billion yen a year ago. Operating income increased to 12.9 billion yen ($109.7 million) compared with 1.3 billion yen in 2006. Net income increased 220 percent on a yen basis to 9.0 billion yen ($76.8 million).
Earnings per American Depositary Share (5 shares of common stock) were 315.9 yen ($2.69) on 28,582,000 average ADS shares outstanding compared to 98.0 yen earnings per American Depositary Share with 28,786,000 shares outstanding in the prior year. Wacoal declared cash dividends of 22.0 yen per share, up 2.0 yen from the previous year.
Business Results: During the fiscal year ended March 31, 2007, the Japanese economy generally moved from recovery to gradual expansion, with improved corporate profits and a steady improvement in consumer spending. Overseas, the global economy has shown recovery, as the U.S. and Asian economies have continued to show economic expansion, and the market in Europe was trending toward recovery.
Business results in the women's fashion industry were generally weak due to early spring low temperatures, a prolonged rainy season and a relatively warm winter.
In such an environment, our group (primarily Wacoal Corporation, which is the core operating entity in our group) sought to improve the strength of its products and endeavored to develop products focused on consumer needs.
marketing@alchempro.com
