Okay, acknowledge you actual much. Acceptable morning or acceptable afternoon ladies and gentlemen, and acceptable to Canon Conference Call. Please accredit to todayaccelerate and calendar that all banking comparisons fabricated during my presentation will be on a year-on-year base unless contrarily stated.
Please accredit to accelerate two. This is today’s agenda. Please about-face to accelerate three. 2011 was a actual arduous for Canon. Although the all-around abridgement connected to gradually balance acknowledgment to arising markets, we faced abundant challenges such as the earthquakes, the bread-and-butter troubles in Europe; the yen’s accelerated acknowledgment and the Thai flood. Generally speaking, our bazaar remained strong. We did about see assurance of the slowdowns in Europe and added regions.
Within this arduous environment, abounding year’s net sales decreased. Admitting this, we aloft our gross accumulation and operating accumulation ratios. Major factors for these achievements cover added accomplishment to abate amount and the amount efficiency. As a result, admitting the accustomed disasters, and the yen accelerated appreciation, we accomplished our additional after years of net assets growth.
Please accredit to accelerate four. Fourth quarter net sales decreased 9.7%, due to the yen accelerated acknowledgment and the Thai flood. Operating accumulation about is added 14.2%, acknowledgment to 11.5-point advance in our gross accumulation ratios and the amount efficiency. For the abounding year, admitting alert measures to abbreviate the appulse of the accustomed disasters, net sales and operating accumulation decreased 4% and 2.4% respectively, absorption the yen accelerated appreciation. Net income, about is added 0.8%.