To our stockholders,
Thank you for being our best partner.
Here is our report regarding our sales and financial results for
the fiscal year starting from April 1, 2009 to March 31, 2010 (this
being the 41st Pulstec Industrial Co., Ltd., fiscal year).
With regards to the economy of Japan, in this current business year,
the severe employment environment has resulted in the continual
lowering of personal income. However, due to the effects of the
national economic policy, which is now demonstrating some economic
recovery, plant and equipment investment, that had previously been
frozen or temporarily postponed there has been a gradual sign of
The main industrial sector in which Pulstec Industrial Co., Ltd.
Operates, improved, particularly with regard to Flat screen TVs
and Blu-ray recorders, corresponding to the rise in digital terrestrial
broadcasting, and the introduction of Eco Point (CO2 reduction by
low electrical power consumption etc).
In this situation, our company concentrated on the sale of existing
products, which was mainly for optical disc associated equipment
and systems. In addition we entered new markets, such as the special
recording of data, including images, text and other documents using
optical disc media, also environment-friendly photovoltaic type
LED panel lights, etc.
We expect the orders for these special devices and systems to grow,
and we anticipate repeat orders. These business opportunities have
been aggressively developed. At the same time, we have concentrated
on reducing our costs, by actively cutting the costs of materials
The amount of orders accepted total 2,563 million yen, a decrease
of 11.2% for the same term period in the previous year. Our optical
disc related equipment and systems, the Nano fabrication device,
and the special inspection device showed improved business, and
moved into recovery. However, with regard to our new product, drive
for special recording, we reviewed our sales strategy which is based
on predicted customer demand and the sales prospects for the future
have been reduced to reflect this. The 3-Dimensional Scanner market
was influenced by the automobile manufacturing industry's investment
in new plant and equipment.
With regards to the amount of total sales, this reached a total
of 2,106 million yen, which represents a decrease of 33.8% for the
same period in the previous year). This situation was influenced
by the sales situation for the special recording drives project,
additionally orders were a little lower than expected at the beginning
of the fiscal period, and due to market conditions, it was not possible
to match the order situation experienced in the same half year period
as last year.
Regarding profit and loss. Profitability has improved with the reduction
of material costs, outside order, and other expenses. However, the
"drive for special recordings" resulted in a decrease
in the sales inventory, and the valuation of losses added up to
197 million yen operating loss (the loss for the same term during
the previous year was 406 million yen loss) and 175 million yen
ordinary loss (the loss for the same term during the previous year
was 414 million yen). A loss was attributed to the old Head Office
building at Hamamatsu Kita-ku, was an idle asset, contributing a
loss of 242 million yen current term net loss (the loss for the
same term during the previous year was 517 million yen).
The main equipment investment in the current business year are;
demonstration systems for sales promotions, such as the Disc evaluation
system for Blu-ray discs, and the Stamper evaluation system for
Blu-ray stamper, the amount of capital investment totals 28 million
With regard to the financing aspect, there is no specific notice
at this time.
Our company was able to achieve suitable success by implementation
of the structural reform for turn profit, such as the management's
reform, large-scale cost reduction, withdrawal from unprofitable
operations, and liquidation of an ailing subsidiary.However, it
did not result in the return to profitability, but the current term
net loss of a continuous is added up for 5 years by the end of this
year, and it has become the situation of inducing the important
doubt about the premise of a going concern.
For the next term, in order to turn our performance into a positive
figure, and set slogan "Strengthening of profits, and appropriation
of continuous profits" for business policy, and the following
measures are implemented.