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Consolidated Performance
The ADK Group's gross billings in the second quarter of fiscal year 2011 were ¥ 165,638 million, declined 1.7% compared with the previous corresponding period. The reason for the decline is that the Parent company, ADK, recorded a decrease in gross billings, although both domestic subsidiaries and overseas subsidiaries recorded an increase. In terms of gross profit, ADK, domestic advertising related-companies and overseas subsidiaries all recorded an increase in profit. As a result, the segment income increased 11.4% year-on-year, to ¥22,101 million. Operating income was ¥1,376 million (compared with ¥1,484 million loss for Q2 2010). Ordinary income totaled ¥2,517 million (compared with ¥131 million loss for Q2 2010) as a result of totaling the dividends income of ¥736 million and the equity in earnings of affiliates of ¥137 million.
The Group posted extraordinary income of ¥739 million. Furthermore, it recorded total extraordinary losses of ¥1,363 million due to a loss on valuation of investment securities and a loss on adjustment for changes in the accounting standard for asset retirement obligations. As a result, income before income taxes totaled ¥1,893 million (compared with ¥2,643 million loss for Q2 2010). The Group reported net income of ¥876 million (compared with ¥1,868 million loss for Q2 2010).
The Parent company, ADK, which is the core of the group, reported gross billings of ¥145,597 million, down 3.4% from the previous corresponding period. ADK continued to devote itself to improve profitability. As a result, the gross profit amounted to ¥16,622 million, up 12.6% year-on-year. Due to the continuous effort to control selling, general and administrative expenses, the operating income amounted to ¥930 million (compared with ¥1,881 million operating loss for Q2 2010).
