Despite the positive effect from the yen
depreciation, Group sales remained at the
same level, primarily as a result of sales
decreases in challenging businesses as the
Company narrowed its range of models and
business transfers. In Japan, although sales in
the housing-related and consumer electronics
businesses decreased, due mainly to
weakening demand after the consumption
tax rate hike in April 2014, sales of residential
solar photovoltaic systems were strong.
Overseas sales increased primarily as a result
of strong automotive-related business sales
and robust demand as well as the positive
effect from the yen depreciation. Consolidated
Group sales in real terms (excluding the effects
of exchange rates) decreased by 3%
compared with the previous fiscal year.