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> For the fiscal year ended March 31, 2008, consoli-
dated net sales for the Olympus Group increased
for the 14th consecutive year and marked
record-high net sales. Of particular note, Olympus
achieved, ahead of schedule, its ¥100-billion oper-
ating income target, which under the Corporate
Strategic Plan (2006 CSP) had originally been set
for the fiscal year ending March 31, 2009. This was
owing to the following key measures, all of which
have been undertaken during my time as president:
(1) departure from an endoscope-dependent
business operation; (2) establishment of a sustain-
able earnings structure in the Imaging Systems
Business; (3) creation of new businesses; (4) reform
of production structure; and (5) enhancement of
corporate brand value. The efforts that have gone
into these measures are steadily bearing fruit.
Overview of Fiscal 2008
> Olympus recorded consolidated net sales of
¥1,128.9 billion in fiscal 2008, up 6.3% compared
with the previous fiscal year. This was attribut-
able to robust sales in the Imaging Systems and
Medical Systems Businesses. In the Imaging
Systems Business, Olympus released three new
digital single-lens reflex (SLR) cameras, including
its flagship E-3 model.
In the Medical Systems Business, sales of
endoscope systems that enable observation using
specific light spectra, surgical endoscopes and
endotherapy devices were strong both in Japan and
overseas, contributing to the overall sales increase.
On the earnings front, revenue and business effi-
ciency increased in the Imaging Systems Business
through cost reduction activities. In addition, brisk
sales of mainstay Medical Systems Business prod-
ucts in Europe and North America contributed to
Olympus setting record highs in operating income
and net income.
In light of these results, Olympus raised its
annual dividend for the third consecutive year. In
connection with this, Olympus acquired treasury
stock of approximately ¥10 billion to return profits
to its shareholders.
Imaging Systems Business:
Reinforced Earnings Capabilities
> The Imaging Systems Business recorded increases
in both revenue and earnings for the second
consecutive year. These increases stemmed from
the strenuous efforts made to reinforce the digital
camera and optical component businesses and to
streamline business operations, based on profit-
oriented structural reforms that date back to
fiscal 2006.
A MESSAGE
FROM THE PRESIDENT
OLYMPUS 2008 5