IR News｜Results

 Benesse Corporation today announced its consolidated financial results for the first half of the fiscal year ending March 31, 2003 (FY2002). The Company's sales declined 2.9% to 130,490 million yen from a year earlier, in spite of expanded nursing care group home operations at the Senior Company and growing sales for the new business at the W&F Company. The sales decline is largely due to decreased enrollment in Benesse's main business, the Shinkenzemi correspondence courses, especially in the Shinkenzemi correspondence courses for senior and junior high school students.

In addition, along with the global economic downturn, decreased orders from corporate clients in the Language Company unit (the second largest business of the Company) are also reflected in the sales decline.

While the profit at the Senior Company rose, Benesse's operating income fell 26.1% to 13,157 million yen from a year earlier, which was a result of the sales decline in the Education Group. Ordinary income slid to 12,463 million yen, 34.8% down from period a year earlier.

Net income plunged 52.2% to 4,955 million yen, which reflects the extraordinary loss that resulted from the sale of the translation service unit at Berlitz International, Inc.