Orby Systems ＜5576＞ announced financial results for the fiscal year ending 2024/3 on the 22nd. Net sales increased 11.9% from the previous fiscal year to 6.896 billion yen, operating profit increased 17.7% to 591 million yen, ordinary profit increased 22.2% to 632 million yen, and net income decreased 11.2% to 441 million yen. It hit record highs in sales, operating profit, and ordinary income.
Regarding performance by service line, sales in the financial business increased 10.4% from the same period last year to 2,726 billion yen. We are developing businesses centered on software design, development, operation and maintenance in various fields of regional banks, Tokyo banks, exchanges, insurance, securities, and credit cards. In the life insurance related field, which we are focusing on, it remained steady due to the fact that orders for large-scale migration projects were steadily expanded, and orders for medium-sized projects were also expanded in the regional bank/Tokyo bank, and exchange fields, and we were able to acquire new projects.
Sales in the industrial distribution business increased 8.1% from the same period to 1,898 billion yen. We are developing businesses centered on software design, development, operation and maintenance in the fields of industrial distribution, microcomputers, and medical care. As for the main industrial distribution sector, it continued to be steady, mainly distribution system projects and pharmaceutical system projects. Also, in the medical field, there was a significant growth due to the fact that multiple large-scale projects were ordered in the second half of the year. Meanwhile, in the microcomputer field, although the effects of development delays and contraction remain, inquiries are becoming active, mainly for home appliance projects and in-vehicle projects.
Public works sales increased 16.3% from the same period to 1,684 billion yen. We are developing businesses centered on software design, development, operation and maintenance in the power ICT field, social infrastructure field, media information field, public sector, education, and education fields. The power ICT field and media information field, which are the main forces, have been steady. Also, in the public sector, projects for local governments and independent administrative agencies have been steady, and orders are also on the rise in the second half compared to the first half of the year. Furthermore, local government standardization and government cloud projects are in the preparation stage before full-scale start, and they are slowly starting up.
Sales in the IT innovation business increased 20.2% from the same period to 586 million yen. As a front system engineer who supports the entire system, we are developing our business centered on contract development, operation and maintenance. The migration needs of financial institutions from servers operated in-house to virtual servers and cloud servers were linked to order expansion as planned. Also, as a result of focusing on acquiring projects centered on the cloud, business performance remained steady due to the fact that we were able to continue to receive orders for projects.
As for the full-year earnings forecast for the fiscal year ending March 31, 2025, we expect sales to increase 6.0% from the previous fiscal year to 7.308 billion yen, operating profit up 1.5% to 600 million yen, ordinary profit up 0.6% to 636 million yen, and net income to 480 million yen, up 8.7% from the same period. Since the company acquired all shares of Human & Technology on 2024/4/1, consolidated financial statements will be prepared from the first quarter of the fiscal year ending 2025/3. The consolidated earnings forecast for the fiscal year ending 2025/3 is currently being scrutinized, and it is said that it will be announced promptly as soon as it becomes clear.