With regard to domestic sales, we have been attempting to expand new products and increase sales for corporate clients as well as strengthening product marketability by improving our product line-up. Particularly, in addition to promoting activities related to our traditional "Eco Life" series, we launched the sale of the "Silent Solar" series which was created after the consideration of environmental issues and convenience and are equipped with both solar-powered batteries and auxiliary batteries. We also improved our products equipped with "Three Waves", which expanded its reception range by receiving AM radio time signals as well as standard radio waves. Furthermore, the company has been improving and strengthening our product line-up targeting various consumer lifestyles by enhancing products in price ranges with larger sales quantity. However, sales decreased from the previous year due to a sharp decline in consumer spending after the third quarter or later in particular. As for overseas sales, although sales in markets other than the U.S. were relatively steady, sales of the entire overseas market fell below the previous year due to the significant sales decline in the U.S market. Sale of clocks for automotive display panels also decreased from the previous year due to the decline in automobile sales.
In profits and losses, we promoted elimination and consolidation of domestic production bases and the review of sales offices as well as implemented business structural reform to enhance efficiency. Although overall sales decreased due to the appreciation of the yen, operating profits dramatically improved.
As a result, sales for the Clock Division in this consolidated fiscal year totaled 12.418 billion yen, an 8.1% decrease from the previous year's 13.52 billion yen. Operating profits were 839 million yen, a 533.7% increase over the previous year’s 132 million yen.