[January 30, 2018] OMRON Corporation today announced its consolidated operating results for the first nine months of fiscal 2017, ended December 31, 2018. Net sales for the term advanced 9.9% from a year earlier, to JPY624.9 billion, reflecting progress in the core Industrial Automation Business ("IAB"), as well as in the Electronic and Mechanical Components Business and the Healthcare Business. Gross profit rose 16.4%, to JPY260.8 billion, operating income climbed 40.5%, to JPY64.4 billion, and net income attributable to shareholders jumped 52.4%, to JPY46.7 billion. Details are available at: https://www.omron.com/about/ir/irlib/presen/

Net sales, gross profit, and operating income were all record highs for the first nine months, as was the gross profit margin, a key focus for management, which advanced 2.3 percentage points, to 41.7%. Revenues and earnings increased for the fourth consecutive quarter.

Global sales were up around 25% in IAB, which focuses on the automotive, digital, food and daily necessities, and social infrastructure fields. Sales in Greater China surged 34% on demand fueled by rapidly expanding digital industry investments in Greater China and Korea. Sales in this segment thus increased 21.7%, to JPY292.1 billion.

Management has maintained the upgraded full year forecast, announced with the first half results, expecting net sales to rise 7.0%, to JPY850.0 billion, and gross profit to gain 13.4%, to JPY353.5 billion. Operating income is also expected to rise 25.8%, to JPY85.0 billion, with net income attributable to shareholders increasing 28.3%, to JPY59.0 billion. In view of robust demand in IAB, management has lifted its sales forecast for the IAB by JPY5.0 billion from the forecast announced at the first half results to JPY393.0 billion. At the same time, the sales forecast of Other Businesses has been revised downward by JPY5.0 billion to 52.0 billion due to the market slowdown in the backlight business and the PV inverter business.

Yoshihito Yamada, President and CEO, commented that, "Our performance demonstrated that we have made steady progress toward our goals for 2020 under VG 2.0, our medium-term management plan. We will continue changing to build new value as part of an ongoing companywide effort to grow toward and beyond 2020." Details of VG2.0 are available at: https://www.omron.com/vg2020/