Next, I will explain the quarterly business results by company. Sales of the conventional Kaga Electronics Group were JPY58,041 million for the second quarter, down 6.0% YoY and up 10.6% QoQ. Gross profit was JPY8,410 million, down 1.5% YoY and up 13.0% QoQ . Operating income was JPY2,749 million, up 17.7% YoY and up 47.0% QoQ.
FEI posted net sales of JPY30,548 million, down 48.5% YoY and up 4.7% QoQ. Gross profit was JPY2,455 million, down 41.1% YoY and up 5.5% QoQ . The company reported operating loss of JPY65 million, against operating income of JPY1,057 million in the second quarter of the previous year. A sharp decrease in gross profit resulted in the red ink.
Excel, which joined the Group in the current fiscal year, posted net sales of JPY16,139 million. Gross profit was JPY779 million, and operating profit was JPY91 million. The company turned into the black in the second quarter partly because results at its overseas subsidiaries were included in its consolidated figures from the second quarter.