NIPPON SANSO HOLDINGS
Each segment made progress in pricing management.

The sales increased by 6.6% with the core operating income up 18.7%, the operating income up 17.8% and the profit for the quarter term attributable to owner of parent company up 18.4% in comparison with the same term of last year. Excluding the influence of foreign exchange, the sales decreased by 1.1% with the core operating income up 8.8%.
In segmental terms, in spite of the dull sales in air-separation gas (packaged and on-site) and electronic material gas, carbon dioxide sold well. In the machinery and construction segment, there was a good performance in the gas and electronics-related business.
In the U.S. segment, there was an increase in the delivery of air-separation gases and a growth in the sales revenue on account of the efforts in price revision. However, the equipment and construction-related business stayed dull except for the air-separation gases (electronics, acetylene, packaged gas, hard goods and helium).
In other regional segments, the delivery of air-separation gases was as good as in the U.S. and the sales revenue of equipment and construction also increased. In addition, the effect of price revision helped to increase the sales revenue by 16.3% with the segmental profit up 26.6%.
In the Asian and Oceanian segments, the delivery of electronics material gas was dull in the East Asia in the electronics field which account for 40% of the segment. As for air-separation gases, the delivery increased. The LPG business in Australia resulted good in both sales and profit thanks to the rise of selling price and delivery.


AIR WATER
Successful price revision and good growth in the overseas business

The sales revenue increased by 6.9% with the operating profit up 23.8% and the profit for the quarter term attributable to owner of parent company up 31.1%.
In the digital and industry segment, the sales decreased by 3.9% with the operating profit up 14.0%. In spite of the efforts to revise the prices of industrial gases, the revenue decreased due to the lowered selling price of the on-site gases for steelmaking which fluctuate depending on electricity bill and also the decreased sales of basic chemicals. The supply of on-site gases to the electronics industry was so good to bring a positive interest. The volume of gases sold during the term stayed flat comparing the last year.
Regarding the overseas business of industrial gases, both the steelmaking on-site business in India and the other gas distribution were at a good level. In North America the consolidation of two distributors brought a good effect.


IWATANI
Despite decrease in sales, ordinary income increased by 41.7% affected by LPG market factor and the equity method investment gain related to Cosmo HG

Although there was an increase in the selling price of LPG due to the rise of import price, the sales decreased by 2.2% due to the weakened helium market in Asia and the sluggish sales of stainless and secondary battery materials.
In terms of profit, the ordinary profit increased by 41.7% with net profit for 1Q term up 61.7% in connection with recording of the non-operating income of ¥4.9 billion caused by the equity method investment gain related to COSMO HG.
In terms of segmental trend, the sales of the industrial gases and machinery business decreased by 2.9% with the operating profit down 32.9%. The air-separation gas business mainly for electronics parts was thriving and liquid hydrogen sold well for the space development industry though greatly affected by the weakening helium market.