For Fiscal 2015 (April 1, 2015 to March 31, 2016), consolidated net sales declined by 6.3% from the previous fiscal year, to JPY1,854.9 billion, and operating income by 13.8% to JPY208.5 billion, as affected by a drastic fall in demand for mining equipment and for construction equipment in emerging countries.
As we anticipate a challenging business environment to continue, we have developed a new mid-range management plan for the next three years from FY2016 to FY2018.
The cornerstone of our management principles is to maximize our corporate value through commitment to Quality and Reliability. We will also ensure all employees share The KOMATSU Way. Further, we will continue to address environmental performance, corporate social responsibility and corporate governance, as we work to improve our business performance and move forward in developing corporate strengths while achieving social responsibility in a well-balanced manner.
On behalf of the Board, we would like to extend our sincere appreciation to our shareholders and other stakeholders for your continuing support.