IR News｜Results

 Benesse Corporation announced today its financial results for the fiscal year ended March 31, 2004 (FY2003).
The company's operating income rose 26.9% to 20,701 million yen on consolidated net sales of 260,142 million yen, up 0.7% year on year. This represented the first improvement in operating profitability in four fiscal periods.

Looking in more detail at net sales, cumulative enrollment in Shinkenzemi courses, a mainstay product, declined year on year, and the sale of the translation business of Berlitz International, Inc. during the previous fiscal year impacted on net sales. However, these negative factors were more than compensated for by steadily rising numbers of new residents at the Senior Company's nursing care homes, and steady growth at Education Group peripheral businesses such as English language materials for preschoolers and elementary school students. Sales were also boosted by the consolidation of Shinken-AD Co., Ltd. following an increase in Benesse's holding in this company.

The rise in operating income was supported by cost-cutting initiatives in the Education Group such as a review of the product and service lineup, improved profitability in the Senior Company on the back of rising sales, and withdrawal from unprofitable businesses in the Women & Family Company.

Ordinary income rose 35.2% year on year to 21,671 million yen, and net income increased 34.7% to 9,393 million yen.