【テロップ】
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【ノート】
These are our FY2020 plan.
We project sales and profits to decline Y/Y, guiding for sales of ￥590 billion, gross profits of ￥264.5 billion, operating income of ￥30 billion and net income of ￥16.5 billion.
We expect the operating environment to remain very tough. Q1 sales fell 8.5% Y/Y but we expect the magnitude of sales declines to widen to 13% on a full-year basis.
Despite this, we expect the GP margin to remain unchanged Y/Y at 44.8%. In real terms, this represents a significant improvement: if the forex impact is excluded, the GP margin would be up 0.7% points Y/Y.
We aim to achieve an operating income of ￥30 billion, leveraging this high GP margin and our firm commitment to our fixed cost reduction plan.
Next, let us look at the key components of operating income.
Please turn to slide 13.