This slide shows the H1 results.
Sales were ￥301.3 bn, gross profit was ￥136.4 bn for a GP margin of 45.3%, operating profit was ￥24.7 bn and net income was ￥19.2 bn. While the operating environment remained challenging over the first half of the fiscal year, we were able to achieve sequential growth in sales, despite our previous expectation that Q2 would be the bottom. Sales came in ahead of our expectations on firm demand from the Digital industry and the benefits from the growth investments made to date.
Notably, we were also able to raise our GP margin by 0.2%-points Y/Y. The improvement reflects the impact of restructuring, such as the winding down of the Backlight Business, variable cost reductions, ongoing efforts to optimize the business portfolio, and a shift to solutions and services. We continue to make solid progress in improving our ability to generate profits.
As a result of all of the above, operating profit excluding the negative forex impact grew 7.6% Y/Y, supported by the higher GP margin and fixed cost cuts.