Kansai Full-Year Report 2023

In the fiscal year under review, the global economy continued to tighten its monetary policy, particularly in Europe and the United States, and the pace of recovery slowed, as geopolitical risks remained elevated and underlying upward pressure on prices persisted, despite signs of an elimination of supply constraints and a slowdown in inflation. Under such circumstances, the economic recovery in China has remained at a slow pace after the termination of the zero-corona policy, partly due to the impact of the stagnant real estate market.

The Group’s net sales for the fiscal year under review were 562,277 million yen (up 10.5% year on year).

Operating income was 51,595 million yen (up 60.8% year on year) as a result of efforts to reduce costs and, despite an increase in fixed costs such as personnel expenses. Ordinary income was 57,685 million yen (up 43.4% year on year), mainly due to an increase in equity in earnings of unconsolidated subsidiaries and affiliates and foreign currency exchange gain, despite the recording of loss on net monetary position due to the hyperinflation accounting standard.

Profit attributable to owners of parent was 67,109 million yen (up 166.4% year on year) This was mainly due to gains on sales of investment securities associated with the reduction in strategic shareholdings and gains on sales of fixed assets associated with the sale of land in India and the sale of the head office in Japan.