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<Consolidated Financial Results for the Six Months Ended September 30, 2007>
Results for the Six Months Ended September 30, 2007
(1) Overview of Financial Results
Net sales were 1,640.8 billion yen, up 12.0% compared to the same period last year, reflecting expanded sales of LCD TVs, mobile phones and LCD panels for TVs.
Operating income was 79.0 billion yen, down 12.3%, and net income was 43.3 billion yen, down 6.9%, both compared to the same period last year. On the profit side, results were lower than the same period last year due to increased depreciation and amortization as well as an increase in start-up costs for LCD TV production bases in Poland and Mexico, and a decline in profits for solar cells resulting from shortages and soaring prices of raw materials.

Note that depreciation and amortization for the first half increased by 25.0 billion yen compared to the same period in the previous year because of changes made in the calculation method in accordance with the revision in fiscal 2007 of the Japanese Corporate Tax Law and because of the increased cost associated with investment centered primarily on LCDs. Of this increase, the amount attributable to the change in depreciation and amortization calculation method was 5.9 billion yen. If calculated under the previous method, for the six months ended September 30, 2007, operating income would have been 84.9 billion yen, down 5.7%.
(2) Sales by Product Group
For detailed information, please download Supplementary Data (PDF: 89KB).
Note: Sales by Product Group include internal sales between segments (Consumer/Information Products and Electronic Components).
[ Consumer/Information Products ]
Sales of Audio-Visual and Communication Equipment were 783.1 billion yen, up 33.2% over the same period last year.
LCD TVs continued to sell well, and sales of mobile phones also increased.
Sales of Home Appliances were 129.3 billion yen, up 8.5%, reflecting growth in air conditioner and refrigerator sales.
Sales of Information Equipment were 222.1 billion yen, up 2.4% over the same period last year.
While sales of personal computers declined, copier/printers and wireless PDAs continued to do well.
As a result, sales of the three product groups comprising Consumer/Information Products were 1,134.6 billion yen, up 22.8% over the same period last year.
[ Electronic Components ]
Sales of LSIs were 98.9 billion yen, up 2.7% over the same period last year.
Increased sales of CCD/CMOS imagers offset slowing sales of flash memory.
Sales of LCDs were 549.8 billion yen, up 8.6% over the same period last year.
Sales of TFT LCDs for mobile phones were affected by a deteriorating market environment, but with expanded production at the Kameyama No. 2 Plant, large-size LCD panels for TVs saw a sales increase.
Sales of Other Electronic Components were 162.0 billion yen, up 0.2%.
Sales of key devices for digital equipment increased, but shortages of raw materials adversely affected sales of solar cells, which were lower than the same period in the previous year.
As a result, sales of the three product groups comprising Electronic Components were 810.8 billion yen, up 6.1%.

Operating income for Consumer/Information Products was 33.1 billion yen, down 10.8% over the same period last year. Operating income for Information Equipment was nearly at the same level as the same period last year. However, operating income for Audio-Visual and Communication Equipment and Home Appliances was lower.
Operating income for Electronic Components was 43.1 billion yen, down 22.8% compared to the same period in the previous year. Operating income for LCDs was at about the same level as the previous year, though LSIs and Other Electronic Components showed a profit decline.
(3) Capital Investment, Depreciation and Amortization, and R&D Expenditures
Capital investment was 217.9 billion yen, up 32.2% over the same period last year, reflecting investment to boost production at the Kameyama No. 2 Plant. Depreciation and amortization was 124.5 billion yen, including the increase that resulted from changes in the calculation method, up 25.2% over the same period in the previous year. R&D expenditures were 99.3 billion yen, up 5.4% compared to the same period last year.

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