This is Tamura. Thank you for taking time out of your busy schedules to listen to my presentation today, and I would also like to thank you for your continued guidance and support. Let me start my presentation on the financial results of the third quarter of the fiscal year ending March 2024. The table on the left shows the consolidated third quarter results for the entire company. Net sales were JPY 67.7 billion, almost unchanged from the previous year. Operating profit was JPY 3.6 billion, down 43% from the previous year. Operating profit margin was 5.4%. Ordinary income of JPY 3.6 billion is down 34%. Net income of JPY 2.7 billion is a 31% decrease. EPS is JPY 11.78. The table on the right shows third quarter results by segment.
The Timepieces segment saw an increase in sales and a decrease in profit, and the operating margin of 13.6%. The Consumer segment saw a decrease in both sales and profit, with an operating margin of 1.0%. The System Equipment segment had lower sales and operating profit of -JPY 1.1 billion. Adjustments were -JPY 1.5 billion, a decrease of JPY 0.3 billion from the previous year. This is cumulative results from the first to third quarter. Net income for the first three quarters of this fiscal year was JPY 10 billion, and ROE was 6.1%.
Our full year plan for the current fiscal year remains unchanged at JPY 275 billion in net sales, JPY 18 billion in operating profit, 6.5% operating margin, JPY 20 billion in ordinary profit, and JPY 14 billion in net income. Next, I will explain the overview of each business segment for the third quarter. First, let me start with the Timepieces business. Although net sales increased year-over-year, the Chinese market has been more difficult than expected. In addition, weak consumption trends are seen in some parts of North America and the ASEAN region. Operating margin has declined year-over-year, but this is due to the impact of increased sales promotion expenses, including branding investment and the resumption of real events, which are strategic investments aimed at the regrowth of the Timepieces business, which we are continuing in this fiscal year.
Next is a by-product result and outline in the Timepieces business. In the G-SHOCK metal line, the G-SHOCK 40th anniversary limited edition model was very popular. The G-STEEL series also performed well, thanks to its appeal to young people on social networking sites. The G-SHOCK Resin line continued to do well with the development of variations of the Octagonal 2100 series. The MASTER OF G Mudmaster flagship model was popular as well. G-SHOCK's sports lineups continued to perform well globally. In others, CASIO brand vintage and metal analog series continued to be popular in the U.S. and Europe. Next is an overview of the Timepieces business by area. Sales in the third quarter were up 4% on a local currency basis compared to the same period last year. All of the regions are represented in local currency. In Japan, sales were up 2%.
Directly managed stores performed well, driven by the gift business, et cetera. Premium G-SHOCK sales exceeded the previous year's level, driven by 40th anniversary models, but did not reach the expected level. North America was -5%. Overall conditions remain difficult, but direct e-commerce is performing well. Europe was +5%, with G-SHOCK sales continuing to be strong in all countries. Casio brand products are continuing to do well in Europe, capturing the analog trend. In China, sales were up 19% year-over-year. Last year's performance was weak, so on a year-over-year basis, sales grew, but the recovery in actual sales during and after the Singles' Day shopping season has been below expectations. We will continue to monitor consumption trends. Other regions was +3%. Although the region as a whole is experiencing positive growth, some ASEAN countries are seeing weaker consumption trends.
On the other hand, India is performing very well with the appointment of its first major ambassadors... Next, I would like to talk about the EdTech business and the sound business. First of all, the EdTech business is performing in line with the plan at the beginning of the fiscal year. In the sound business, the drop-off of demand after COVID and the impact of inflation are still continuing, and it is taking some time for the industry as a whole to adjust its inventory. In Europe, however, there is a recovery trend in the market. Going to the system equipment business, in the HR solution business, namely the CHS business, we will continue to replace existing users of the HR integration system, ADPS, and cross-sell the talent management system, Hito Compass. In addition, we will strengthen the shift to the recurring business.
In the handheld terminal, the PA business, we will continue to respond to orders in consideration of profitability. In the cash register, SA business, and the management support for small and medium businesses, the SMB business, demand continues to increase due to the start of the invoicing system in October last year, and in the SMB business, demand for compliance with the Electronic Books Maintenance Act continues. Next, let me introduce our initiative in the timepieces business, Shock the World. This event kicked off in Tokyo in September. In the third quarter, we held events in six countries: London, New York, Berlin, Shanghai, Bali in ASEAN, and in Mumbai, India. I would like to introduce our efforts in China, ASEAN, and India, which are our focus markets.
In China, we held events in our directly managed stores, and in the e-commerce market, we held live streams and SNS streams in conjunction with Shock the World. After the event, pop-up events were held in major cities. In the ASEAN region, we held the event in Bali, Indonesia, in early December, inviting influential media from several countries in the ASEAN region, and conducted an area promotion using Rich Brian, a famous hip-hop star. We are rolling out sales counters linked with Shock the World in stores in nine ASEAN countries. In India, this event was held in Mumbai in mid-December. In preparation for the event, various in-store promotions were conducted throughout India. Cricket player Shubman Gill and Bollywood star Vicky Kaushal took the role of ambassadors, and they are expanding brand awareness. We are also developing stores with an awareness of visual merchandising.
Next, let me introduce our Sound business initiatives. In February, we will launch the new CELVIANO, a digital piano with a new acoustic system that approaches the rich expressiveness of a grand piano. In addition to the top-of-the-line model, AP-750, several lower price models are also available, priced around JPY 200,000, strengthening the lineup in the mid to high price range. We are strengthening our lineup in the price range that we have not been able to expand much in the past and are aiming to capture the customer base in this price range. We have held presentations, explanatory meetings, and hands-on workshops around the world, and the new products have been highly acclaimed. The overall function of the product, including sound, tone, keyboard, and pedal operation, were highly acclaimed.
We also received participants who we had never done business with in the past, and we had a full house at the presentation. Lastly, I would like to give you an overview of the current situation by business segment. In the timepieces business, we will continue to closely monitor consumption trends in China, which have rapidly worsened since the end of the year, and we will work to offset the decline in the Chinese market in other regions in order to achieve the plan. In India and ASEAN region, which are our focus areas, we will strengthen promotion after Shock the World.
In the consumer segment, the EdTech business will cover the slump in the Sound business, and the consumer segment as a whole is expected to achieve the plan. For the EdTech business' electronic dictionary business in Japan, this will be the first season after COVID that Gakuhan activities will go back to normal, and we will aggressively expand sales activities for this occasion. In the Sound business, inventory adjustment is continuing, but we have released a new product, CELVIANO, a digital piano, which will go on sale in February. We will strengthen our lineup of mid-to-high price products and promote sales. In the system equipment segment, we will continue to address items that we recognize as challenged businesses. We will continue to tighten investment in new businesses for company-wide adjustments, and will continue to do so in the fourth quarter and beyond.
In addition, we will formulate growth strategies for each business in response to the current business environment, and implement structural reforms for a leaner business structure. In the appendices, I would like to introduce some topics. First, restoration services. We are pleased to introduce the G-SHOCK Restoration Service, which we have been implementing since 2018. We are once again accepting the models that have been popular by our customers for a limited time. This is a service to restore the customer's G-SHOCK, filled with memories, so that they can be used for a longer period of time. We have also launched a limited time sale of virtual G-SHOCK NFTs on December 16th. Since September of last year, we have started a project to promote communication in virtual space in order to expand contact with new users, particularly Gen Z users.
We will continue to provide new user experiences through this project. G-SHOCK Solid Gold, a second dream project to commemorate the 40th anniversary of G-SHOCK, has been unveiled as a limited edition of just one piece. The case, bezel, and band are made of 18-karat yellow gold. Generative design using AI technology was used for the external design, and by repeating this procedure of adding human hand modifications to the modeling, we have created external parts that have both original shape and functionality. This model was sold for about JPY 58 million at a charity auction held in New York by the auction company, Phillips. Last but not least, the Musical Instrument Stores Grand Prize. The Privia PX-S7000 won the grand prize in the digital piano keyboard category of the Musical Instrument Stores Grand Prize 2023.
This is the third award of this model following the iF Design Award 2023 and New York Product Design Award 2023. This slide is about capital allocation. Please refer to the attached documents for further information. Thank you very much for your kind attention.