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LAWSON has announced its third-quarter results for fiscal 2007, ending February 29, 2008. A cumulative summary of our consolidated results for the first nine months of the year is as follows:
Please click here for more details of our results for the third quarter of fiscal 2007
The major areas of note for the third quarter of fiscal 2007 are summarized below.
Operating profit for the period rose by roughly 7% year on year. While top-line growth struggled, profit benefited from the success of cost control measures targeting selling, general and administrative expenses.
In light of these results, LAWSON will continue to enact key initiatives in order to meet planned full-year targets for fiscal 2007.
With respect to the alliance with Ninety-nine Plus Inc., LAWSON will become the principal shareholder in Ninety-nine Plus by having a 34.2% equity stake in the company, as announced on December 25, 2007. This move will make it possible to accelerate steps taken since the start of the alliance to rationalize distribution and promote joint product development. Joint product development in particular will spur an increase in the types of merchandise available in moderate or small portion, ultimately enabling LAWSON to offer products line-up matched to customers.
To LAWSON shareholders and other investors, we ask for your understanding and support of our strong commitment to improving capital efficiency, with ROE as a prime indicator, and our continued push to create corporate value.
January 8, 2008
Takeshi Niinami
President & CEO
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