Q3 2020 IHI Corp Earnings Call Transcript
This is Maruyama in charge of Finance & Accounting of IHI Group. I will explain IHI Group's financial results for the first 9 months of the fiscal year 2019 based on the PowerPoint presentation materials disclosed at 3 p.m. today.
Please turn to Page 4. This slide shows the consolidated results, including orders received and the income statement. Orders received were JPY 876.7 billion, down JPY 57.7 billion year-on-year. As shown at the top right, the average exchange rate for sales in the quarter was JPY 108.95 to the U.S. dollar. There was JPY 2.44 appreciation from JPY 111.39 of the previous corresponding period.
Net sales decreased by JPY 125.1 billion to JPY 922 billion. Operating profit was JPY 27.2 billion, down JPY 29.4 billion year-on-year mainly due to lower sales. Ordinary profit decreased by a bigger degree of JPY 48.9 billion, down to JPY 8.6 billion due to deterioration of share of profit and loss of equity method affiliates. Profit attributable to owners of parent was a loss of JPY 1.7
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