Owing to the impact of reforms in related legislation, including the installment sales law, the Special Transactions Law, and the Money-Lending Business Act, and an economic downturn following the Lehman Shock, JACCS' operating revenue trended downward from the year ended March 31, 2008.
Under a three-year management plan launched in the year ended March 31, 2013, we were able to stem the decline and strengthen our management structure. As a result of these efforts, operating revenue realized a turnaround in the year ended March 31, 2014, for the first time in seven years.
Under the current medium-term management plan, initiated in the year ended March 31, 2016, we are focusing on leveraging group synergies to bolster our earnings base and expand operating revenue.
Ordinary income / Net income
In the year ended March 31, 2008, operating revenue was down as a result of efforts to strengthen operations in response to reforms in related legislation, including the installment sales law, the Special Transactions Law, and the Money-Lending Business Act. We also increased nonperforming debt charges, and posted an ordinary loss for the first time since our establishment.
We thereafter endeavored to enhance business profitability and overhaul our cost structure to solidify our business foundations while transitioning to a management structure that would be better able to withstand changes in the business climate. We are continuing efforts to maintain stable earnings growth.