Shimadzu Reports H113 Results
Shimadzu has reported operating results for H113, the six months ended September 30. According to the company, in H113, the Japanese economy recovered slowly due to yen depreciation and effects of government economic and financial policies. Internationally, the pace of economic growth in China remained slow. The European economy showed signs of having bottomed out, despite the negative influence from some countries' debt problems and fiscal austerity. In the US gradual economic recovery is continuing.
In the midst of such circumstances, Shimadzu has been actively implementing growth measures in accordance with its medium-term management plan, such as introducing globally strategic products, strengthening the aftermarket business and promoting local R&D and local production overseas. In H113, net sales were JPY138,256mn, a year-on-year increase of 11.0%; operating income was JPY7,885mn, an increase of 69.3%; ordinary income was JPY8,720mn, a year-on-year increase of 108.0%; and net income was JPY7,172mn, an increase of 176.2%.
In Japan, sales of X-ray fluoroscopy systems were strong because of new products that can be used for examinations in gastrointsetinal, urology, orthopaedics and other departments, as well as systems equipped with portable flat panel detector units for small and medium sized hospitals and clinics. However, overall sales increased only slightly.
Internationally, overall sales significantly increased due to yen depreciation and other factors. In North America, sales of digital mobile X-ray systems and general radiography systems were strong. In China, sales of new X-ray fluoroscopy systems were strong and sales of digital mobile X-ray systems significantly increased. In Europe and South-east Asia, sales increased due to large-scale orders. As a result, sales from the Medical systems business were JPY28,310mn, up by 10.6% on H112.
Consolidated outlook of FY2013 (in JPYmn):
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On January 25 2013, it was discovered that Shimadzu overcharged the Japanese Ministry of Defence by reporting more-than-actual labour hours. Consequently, Shimadzu has been suspended from participating in contracts with the Ministry of Defence.