Fuji Electric Co., Ltd. announced consolidated earnings results for the nine months ended December 31, 2014. For the quarter, the company reported net sales were ¥541,846 million against ¥502,637 million a year ago, following increased demand and beneficial foreign exchange translations. Operating income was ¥11,427 million against ¥5,862 million a year ago. This reflected higher net sales and improved profitability stemming from cost reductions. Ordinary income was ¥13,597 million against ¥6,618 million a year ago. Net income was ¥11,213 million against ¥2,342 million a year ago. Net income per share was ¥15.70 against ¥3.28 a year ago. Income before income taxes was ¥17,469 million against ¥6,237 million a year ago. Interest-bearing debt as of December 31, 2014, amounted to ¥214.4 billion, up ¥14.9 billion from the previous fiscal year-end. Increase in net sales includes a little more than ¥10 billion impact of depreciation of the yen. Even excluding the impact, net sales increased due to demand increase. There were factors pushing down operating income such as price decline and increase in fixed cost associated with higher production volume. On the other hand, there were factors pushing up operating income such as continued cost-reduction, higher production volume, increase in sales and depreciation of the yen.

For the fiscal year ending March 31, 2015, the consolidated company now expected net sales of ¥800,000 million, operating income of ¥41,000 million, ordinary income of ¥43,000 million, net income of ¥27,000 or ¥37.79 per share compared to net sales of ¥790,000 million, operating income of ¥40,000 million, ordinary income of ¥41,000 million, net income of ¥24,000 expected previously. Net sales are expected to be ¥10.0 billion higher than the previous forecasts due to increased demand in the Power and Social Infrastructure and Electronic Devices segments. Operating results are expected to climb ¥1.0 billion above the previous forecasts due to higher-than-forecast operating results in the Electronic Devices and Food and Beverage Distribution segments resulted from the benefits of cost reduction efforts.