Hello, everyone. My name is Arai, in charge of corporate planning. I'd like to present the consolidated financial results for the fiscal year 2022 compared to the previous year. Please turn to page four. Thanks to your support, net sales, operating income, ordinary income, and net income attributable to owners of parent all exceeded the previous year's levels, and we were able to finish the fiscal year with new record highs. As explained by Chairman Kitazawa, I am very pleased that we were able to achieve our medium-term management plan goal one year ahead of schedule. First of all, net sales increased by JPY 99.2 billion from the previous year to JPY 1,009.4 billion. Excluding gain on translation of earnings of overseas subsidiaries, it was up JPY 11.8 billion. Sales have increased by JPY 87.4 billion.
The figure includes a negative impact of approximately JPY 13 billion due to the lockdown in China, which caused some difficulty. Operating income increased by JPY 14 billion to JPY 88.9 billion. Operating margin was up 0.6% to 8.8% year-on-year. Non-operating loss was at JPY 5.5 billion, including JPY 2.4 billion in foreign exchange gains and losses, which is related to receivables and payables in foreign currencies. The other items include the cost of converting the business of our affiliated company in Malaysia from media to semiconductors, et cetera, which was JPY 5.5 billion, resulting in an absolute loss of JPY 1.1 billion.
Ordinary income increased by JPY 8.5 billion to JPY 87.8 billion, and extraordinary loss was JPY 1.3 billion for an absolute figure of JPY 7.9 billion. The extraordinary income loss includes mainly loss on liquidation of affiliated companies, including loss on liquidation of an Indonesian company, which was JPY -1.1 billion compared to the previous year. The net income attributable to owners of parent for the year increased by JPY 2.7 billion to JPY 61.3 billion, exceeding the JPY 60 billion mark. Waterfall chart with a breakdown of changes in operating results is shown on page five. The total increase came to JPY 14 billion. Large part of this increase is due to an increase in sales and production volume, which came to JPY 35.5 billion.
The increase in the sales and production volume in Semiconductors, Automotive, Power Supply & Facility Systems, Vending Machines, Factory Automation Systems, and ED&C Components were the major positive factors. On the other hand, fixed costs increased due to an increase in personnel expenses, R&D, and capital expenses related to capital investment, mainly in Semiconductors, with other expenses increasing by JPY 12.3 billion. This includes controllable expenses and subcontracting expenses. Compared to the previous year, a special factors which include about JPY 4 billion of negative factor, which is allowance for doubtful accounts in China. Because of depreciation of the Japanese yen, there was an exchange rate effect of JPY 5.6 billion. Others came to JPY -5.1 billion.
The negative factors include a rise in raw material costs of JPY 9.5 billion and a rise in energy prices of JPY 3.8 billion, which came to more than JPY 13 billion. We tried very hard by raising the selling prices by JPY 8 billion, but it was short of offsetting the increase, resulting in JPY -5 billion. The total operating income increased by JPY 14 billion from the previous year. Page six show net sales and operating income by segments for fiscal year 2022. Thanks to the efforts of all segments, all segments achieved increase in both net sales and operating income. In terms of net sales, the Power Electronics Energy, Industry, and Semiconductors led the increase in sales. In terms of profit and loss, Power Electronics Energy and Semiconductors made a large contribution to profit and loss.
I will provide details of each of the segments starting on page seven. In the Power Electronics Energy, sales increased by JPY 33.1 billion to JPY 264.1 billion, and operating income increased by JPY 5.7 billion to JPY 26.9 billion year-on-year. There are three areas covered here. The Energy Management decreased in both sales and income due to a large order received in the previous year. Sales and profits increased substantially in the Power Supply & Facility Systems and ED&C Components. Power Supply & Facility Systems had a significant increase in sales to domestic and overseas data centers and semiconductor manufacturers. In particular, sales of electric panels increased significantly at our subsidiary in Singapore, contributing to both sales and profit.
As for ED&C Components, both sales and profit increased significantly due to increased demand from set manufacturers, mainly machine tools and semiconductor production equipment, mainly here in Japan. In the Power Electronics Industry, sales increased by JPY 29.3 billion to JPY 353.4 billion, and operating income increased by JPY 1.1 billion to JPY 24.9 billion. There are four areas covered in this segment. Social solutions, where both sales and income declined due to decrease in ship, SOx scrubber and railcar related orders from the previous year. The remaining three areas saw increases in both sales and income. Automation Systems were still very much affected by the lockdown in China. Demand increased in Japan and overseas, excluding China. Both sales and income increased due in part to the impact of foreign exchange rates.
Equipment construction also saw an increase in both sales and income, albeit slightly. Contributor being higher demand for electrical equipment construction. Both sales and income increased in IT solutions, especially in sales to larger scale academic and private sector projects. Semiconductors on page 8. Sales increased by JPY 27.4 billion to JPY 206.2 billion, and operating income increased by JPY 5.1 billion to JPY 32.2 billion, resulting in an operating income margin exceeding 15%. As stated in the overview section, sales in the Industrial increased by JPY 0.3 billion. Since there was a media sales increase of JPY 6 billion in the previous year, the total sales increase in the Industrial came to just under JPY 7 billion.
In Automotive, sales increased significantly by JPY 27.1 billion, exceeding the JPY 100 billion mark. Demand for EVs have been extremely strong, we expect orders to continue to be very strong in the future as well. Thanks to the large number of orders we are receiving, we will continue to strengthen our production facilities. Despite an increase in the ratio of capital to production and in the rising cost of materials and power, all of our facilities are operating at almost 100% of its capacity, we have been able to increase our profit in tandem with increased sales. In Power Generation, we were able to win a large order for a renewable energy project, a geothermal project in New Zealand, resulting in increased sales and profit. Net sales increased by JPY 8.8 billion to JPY 87.3 billion.
Operating income was up JPY 0.4 billion to JPY 3.6 billion. In Food and Beverage Distribution, net sales increased by JPY 4.5 billion to JPY 95.3 billion. Operating income was JPY 4.4 billion, an increase of JPY 1.3 billion. The increase in sales and income from vending machines was after taking into account the allowance for doubtful accounts of more than JPY 2 billion for our Chinese subsidiary's customer. Demand from domestic customers was strong, and we were able to turn profitable thanks to cost reductions and other measures. In Store Distribution, sales were down, but we were able to slightly increase profits through cost reductions and other measures.
The profit margin would have been more than 7% and not 4.5% if it were not for the special factor in China, which amounted to more than JPY 2 billion. Page nine shows our net sales for Japan and overseas area. The total sales increased by JPY 99.2 billion, JPY 37.7 billion overseas, and JPY 61.6 billion domestically, which means that the ratio of overseas sales is 29%. By region, sales in Asia increased by JPY 28.4 billion, Europe by about JPY 13.1 billion, and the Americas by JPY 7.3 billion. The increase was due in part to the impact of foreign exchange rates, but it was also an increase compared to the previous year.
In China, all business segments, including ED&C Components, Automation Systems, Semiconductors, and Food and Beverage Distribution, were negative, resulting in a total decrease of JPY 11.2 billion from the previous year. On Page 10 is a breakdown of changes in amount of orders received by segments for fiscal year 2022 versus the previous year. Compared to the previous year, orders received increased by JPY 98.6 billion to JPY 1,106.5 billion. Orders grew largely for Power Electronics Energy, JPY 57.4 billion, Power Electronics Industry, JPY 23.6 billion, and Semiconductors, JPY 16.8 billion. Especially orders for Power Electronics Energy management and power supply and facility systems and automotive semiconductors increased by triple digit billion JPY. Page 11 shows a comparison of amount of orders received and sales by major components.
Orders increased slightly in major components, up JPY 2.3 billion, with automotive semiconductors up 33%, industrial semiconductors down 4%, factory automation down 8%. Net sales increased by JPY 45.9 billion, due in part to a significant increase in orders. Sales increased in all components, 37% in automotive semiconductors, 7% in industrial semiconductors, 2% in factory automation, and 11% in ED&C Components. The right half of the slide shows a quarterly comparison of amount of orders and net sales from fiscal year 2021 to fiscal year 2022. Up until the second quarter of fiscal year 2022, orders exceeded the sales. However, sales have been exceeding orders since the third quarter. Sales have been trending strongly quarter-on-quarter.
On page 13, there is a comparison with the forecast on January 26th, which is the same as the figures announced in October. Net sales were higher by JPY 24.4 billion and operating income higher by JPY 1.9 billion. Due to a negative factor of about JPY 2 billion from exchange rates in the non-operating line, ordinary income was slightly lower by JPY 0.2 billion. However, net sales attributable to owners of parent came in higher by JPY 1.8 billion. As a result, net sales, operating income, and net income exceeded the forecast. Below is a comparison with the plan for each segment of the business divisions. Power Electronics Industry, which is mainly low voltage inverters, saw a decrease in production due to difficulties in procuring materials in Japan. Sales in China decreased, resulting in lower sales and income.
In the Power generation, net sales were higher by JPY 5.3 billion, but due to cost increases, income was lower by JPY 0.5 billion. Net sales and income in Power Electronics Energy, Semiconductors, and Food and Beverage Distribution increased in comparison to the plan. Page 15 shows the balance sheet. This is a comparison of the balance sheet as of March 31st of this year with that of March 31st of last year. Inventories increased by JPY 28.4 billion due to increased net sales and increased production. Tangible fixed assets increased, mainly Semiconductors, by over JPY 50 billion. On the other hand, in investments and other assets within total long-term assets, we have been systematically selling policy stock holdings, resulting in a reduction of approximately JPY 18 billion. In total assets increased by JPY 64.4 billion to JPY 1.1816 trillion.
Cash and time deposits are down by JPY 8.3 billion, and interest-bearing debt was also reduced by JPY 25.1 billion. As shown in the lower left-hand side, net interest-bearing debt is down by JPY 17.9 billion to JPY 99.1 billion, less than JPY 100 billion. Net DE ratio was 0.2 x, and equity ratio was 43.8%. On page 16, we show cash flows. Cash flows from operating activities increased by JPY 39.4 billion year-on-year to JPY 116.2 billion. Cash flows from investing activities increased by JPY 27.1 billion compared to the previous year. This is due to the increase in investment in Semiconductors, which resulted in a negative cash flows of JPY 49.5 billion from investing activities. Free cash flow increased by JPY 12.2 billion to JPY 66.7 billion.
Cash flows from financing activities were increased year-over-year by JPY 34.3 billion to JPY -77.2 billion due to increase in dividends and proactive repayment of long-term borrowings. As a result, the balance of cash and cash equivalents at the end of the fiscal year was JPY 84.2 billion. Page 18 shows dividends. We decided to pay half year dividend of JPY 55 and the end of the year dividend of JPY 60, which makes annual dividend JPY 115 per share in FY 2022. It is higher by JPY 15 compared to the previous year, and this marks continuous increase in dividends from JPY 20 per share per year in 2011 up to FY 2022, except for 2019, when there was no change from the previous year.
We were able to increase dividends by JPY 15 each year in 2021 and 2022. We'd like to increase dividend by the similar pace next year as well. On page 20, as reference data, there is a Q-on-Q comparison of the fourth quarter versus the third quarter of ED&C Components, low voltage inverters, Semiconductors, and Vending Machines. At the same time, a year-on-year comparison of the fourth quarter versus the previous year, as well as full year year-on-year comparison. As I mentioned earlier, we recorded over JPY 4 billion in loss costs in FY 2022 on the operating P&L basis. Even though COVID played some role in this, we have launched a new project to prevent these losses from occurring, and we will work to reduce them and improve the profit margin. This completes my explanation.