Performance Analysis

Overview of performance for the consolidated fiscal year under review

During the fiscal year ended March 2016,the Japanese economy recovered moderately, as it was seen in improvements in corporate earnings and indicators reflecting the employment conditions.

In the medical device industry, the remuneration for medical treatments in FY2016 has been a negative revision as a whole.Medical institutions face continuous demands for efficient and high-quality healthcare.

As a result, the Group posted a consolidated “Net sales”of 117,222million yen (up 8.3%year-on-year basis) for this consolidated fiscal year. “Operating income”of 10,649million yen (up 3.4% on a year-to-year basis), “Ordinary income”of 10,934million yen (down 3.8% on a year-to-year basis), and “Profit attributable to parent company shareholders”of 7,368million yen (up 3.5% on a year-to-year basis).

Overview of performance for the consolidated fiscal year under review by segment

1. Physiological diagnostic equipment segment

Consolidated “Net sales”of electrocardiographs,vascular screening systems, and blood cell counters and others were 36,677 million yen (up 12.3% year-on-year basis).

2. Patient monitoring equipment segment

Consolidated “Net sales”of patient monitoring equipment were 9,012 million yen (down 5.4% year-on-year basis).

3. Medical treatment equipment segment

The business of renting medical equipment for home treatment and sales of pacemakers increased.
As a result, consolidated “Net sales”were 45,978million yen (up9.0% year-on-year basis).

4. Consumables and other products segment

In this segment, we mainly handle recording paper, disposable electrodes, and consumables used for devices handled in the above segments, as well as maintenance and repair services.
As the sales increased toward the end of the term, consolidated“Net sales”for this segment were 25,554 million yen (up7.0% year-on-year basis).

Outlook for fiscal year ending March 2016

Regarding the future of Japan’s economy, it is expected to continue to gradually recover. We at the Fukuda Denshi Group (herein after “the Group”), inspired by our corporate philosophy, remain dedicated to contribute to medical progress and healthcare in general in accordance with our social mission.

The Group expects a consolidated “Net sales”of 117,500 million yen, consolidated “Operating income”of 11,000 million yen, consolidated “Ordinary income”of 11,000 million yen, and consolidated “Profit attributable to parent company shareholders”of 7,500 million yen for the fiscal year ending March 2017.

Forecast shown in this material are just an outlook judged or assumed based on the information available at the moment, changes will be promptly disclosed when necessary.

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