Operating income rose 5.1% to 19.5 billion yen (US$158 million), led by the strong performance of Environment and Engineering segment and Plastics and Chemicals segment. Ordinary income increased 1.2% year-on-year to 18.8 billion yen (US$152 million), and net income declined 12.7% year-on-year to 10.2 billion yen (US$83 million).
If the impact of increases in depreciation costs due to the revision of Japanese taxation system were excluded, its results would be operating income of 20.8 billion yen (US$169 million), up 12.1% year-on-year, ordinary income of 20.1 billion yen (US$163 million), an increase of 8.5%, and net income of 11.0 billion yen (US$89 million), down 5.8%.
At the end of the first quarter, the Group's assets totaled 1,697.4 billion yen (US$13,766 million), up 22.9 billion yen from the end of the previous fiscal year primarily as inventories increased.
Liabilities increased by 15.7 billion yen to 1,040.4 billion yen (US$8,438 million) mainly due to an increase in interest-bearing liabilities. Net assets were 656.9 billion yen (US$5,328 million), an increase of 7.3 billion yen. As a result, the equity ratio was 35.2%, remaining the same level as the end of the previous fiscal year.
The Company left its forecasts for the half year ending September 30, 2007 unchanged from its previous announcement on May 9, 2007. Also, the Company intends to review its full-year forecasts when announcing the half-year results, if necessary, by taking account of changes in the external environment.
marketing@alchempro.com
