First, I would like to express my sincere appreciation for your support of GS Yuasa.
I will present the Company's operating performance for the first six months of the fiscal year ending March 31, 2019 (April 1 to September 30 2018).
Economic conditions in Japan recovered moderately with support from a recovery in consumer spending against a backdrop of an improving employment environment and improving corporate earnings.
In this economic environment, the GS Yuasa Group's consolidated net sales for the first six months of the fiscal year totaled \195,415 million, an increase of \11,206 million, or 6.1%, compared with the same period of the previous fiscal year. Sales growth was driven by the automotive batteries business, which enjoyed strong demand for replacement batteries in Japan and solid sales in China. First-half sales were also boosted by increased sales of automotive lithium-ion batteries. Operating income came to \6,956 million (\8,239 million before goodwill amortization), an increase of \970 million, or 16.2%, compared with the same period of the previous year. With the increase in operating income, ordinary income also rose 16.2% to reach \7,492 million, \1,044 million more than in the previous year. Profit attributable to owners of parent totaled \3,454 million (\4,760 million before goodwill amortization), a year-on-year gain of \904 million, or 35.5%.
I sincerely hope we will be able to count on the continued support and encouragement of our shareholders as we rise to meet the challenges ahead.