Message


”In the Financial and General Industry sectors,
sales declined due to the impact of the
COVID-19 pandemic.
On the other hand, in the Public sector,sales increased.

President & Representative Director
Koichi Yoshimura

I. External environment in the fiscal year ended March 31, 2021

 During the fiscal year under review, the novel coronavirus infectious disease (“COVID-19”) continued to spread,
resulting in a global contraction in economic activity. After the new year started, a decline in the number of new
cases and the reopening of economic activity were seen in some countries due in part to progress with vaccination.
However, with the number of infected persons still continuing to rise in many countries, the situation remains
uncertain.
In Japan, a range of businesses, including non-manufacturing businesses such as tourism, transportation and
restaurants in particular were forced to scale back their economic activities significantly due to the declaration of a
state of emergency issued against the backdrop of a rise in the number of infected persons and the deterioration of
bed occupancy rates. Even so, some indicators such as those related to consumer spending, capital investment and
export showed signs of recovery after the new year began, partly reflecting the effects of a range of measures
implemented by the government to prevent the spread of infection while simultaneously sustaining social economic
activities, as well as efforts made by companies and the public; for instance, voluntary restrictions on outings and
the implementation of teleworking, as well as an improvement in overseas economies.

II. Initiatives in the fiscal year under review

 In this situation, INES Corporation (“the Company”) established a scheme to protect its customers, partners, and
employees from the risk of infection, for instance, by reducing face-to-face sales activities. It has also focused on
developing a system corresponding to the new normal, including employees’ teleworking, staggered working hours,
teleconferencing, and social-distancing in the workplace.
In addition, the Company worked proactively to facilitate research and development and develop human resources
with an eye on a new post-COVID-19 era in which DX (digital transformation) is expected to accelerate markedly.
On the financial side, the Company moved forward with the sale of owned real estate, a step that it had already been
taking to improve asset efficiency, and completed the disposal of main assets in the fiscal year under review.

III. Operating results of the fiscal year under review

 Consolidated net sales for the fiscal year under review declined 1.7% year on year, to ¥41,573 million due to the
impact of the COVID-19 pandemic. On a sector-by-sector basis, sales fell 4.1% and 7.5% in the Financial and
General Industry sectors, respectively, mainly reflecting the suspension/postponement of system development
projects and the stagnation of sales activities. On the other hand, in the Public sector, sales increased 2.6% year on
year, primarily aided by projects on the revision of legal systems related to welfare, such as childcare support, and
services pertaining to the fixed-amount cash handout associated with the declaration of a state of emergency.
On the profit front, operating profit fell 4.0% year on year, to ¥2,786 million, and ordinary profit fell 1.1% year on
year, to ¥2,925 million, largely reflecting decreases in sales and the work of engineers due to the impact of the
COVID-19 pandemic, chiefly in the Financial and General Industry sectors. Profit attributable to owners of parent
decreased 30.6% year on year, to ¥1,432 million mainly due to the recognition of an impairment loss of ¥765 million
associated with the sale of owned real estate.

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