IR News｜Results

 Benesse Corporation today announced consolidated financial results for the fiscal year ended March 31, 2002 (FY2001). The net sales climbed to 267,249 million yen, an increase of 1.6% from a year earlier. The sales gain was attributable to increased revenues from language instruction and translation services and effects of foreign exchange fluctuations in Berlitz International Inc.(BI), its wholly owned subsidiary, as well as expanded nursing-care group home operations at the Senior Company. Those increases offset a decline in sales at the Children & Students (C&S) Company, which reflects a drop in enrollment for its Shinkenzemi home study correspondence courses.

The sales decline at the C&S Company resulted in operating income fell 18.8%, to 24,588 million yen. In addition, ordinary income was 26,327 million yen, down 19.2% from the previous fiscal year.
As a result of recording a loss of 13,195 million yen on the impairment of the goodwill of BI, net income fell 98.0% to 326 million yen. The valuation loss on goodwill was recorded as an extraordinary loss in the consolidated statement of income.