Good afternoon, ladies and gentlemen. This is Koguchi speaking. The paper distributed in front of you, financial results for FY 2019 one to three quarter, I would like to use this material to explain. For highlights of these results, I would like to first touch upon the procedures for SpaceJet. Unfortunately, we had scheduled to acquire TC in 2020 as well as the ANA commercial delivery. This will now be postponed to fiscal year 2021 and onwards. SpaceJet development situation as well as various perspectives were taken into account, as a result, for Q3 of this year, based on losses from business activities as a result of impairment on assets up to last fiscal year and losses this year totaled JPY 175.3 billion.
For our profit attributed to owners of parent amounts, again, we have accumulated losses in previous years and losses for the current fiscal year reflected as deferred tax assets, this results in a positive of JPY 3.3 billion. I will elaborate later on. For our full-year forecast for Q4, what we plan to acknowledge as well as what was scheduled for Q1, portion of impairment, all of this included, the business losses from activities is JPY 270 billion, and losses attributed to owners of parent is JPY 60 billion. That will be the full-year forecast. Moving on to our overall financial results up to Q3. For order intake, power domain has increased, and we are exceeding year-on-year. For revenue, this excludes SpaceJet, and we are on par with year-on-year numbers.
For the full-year forecast, the China and U.S. trade friction, turbochargers have been impacted, and we are seeing some of the impact in our numbers. For order intake and revenue, both included industry or I&I, we have to create a downward number. With the settlement with Hitachi, a portion of the settlement has been reflected, and during Q4 as well as for next year, 2020, numbers will also be acknowledged. Based on these situations for dividend, as scheduled, year-on-year JPY 20+ to JPY 150 per stock will be implemented. Let me further go into the details. If you can now move on to page four. For order intake, this is JPY 2,653.4 billion. We exceeded the numbers from last year by JPY 174.1 billion. Revenue is JPY 2,856.5 billion.
This is a minus of JPY 42.7 billion from last year, like for like. From business activities profit, SpaceJet losses included JPY 12.7 billion profit versus last year same period, -JPY 92.5 billion. For the quarter profit, this is JPY 101.4 billion and for DTA related to SpaceJet, since we have acknowledged this number, the tax impact has changed dramatically, and this is a +JPY 66 billion as a result. EBITDA and free cash flow, the numbers are shown on this side. Moving on to businesses excluding SpaceJet, and the details are described on page five. JPY 188.1 billion from profit from business activities, we are on par with the trend of last year. Profit attributable to owners of parent, JPY 98 billion. EBITDA, JPY 290.3 billion. You can understand that we have undertaken a solid management.
Moving on to free cash flow. This is -JPY 225.5 billion versus same period last year. This has deteriorated. However, for this number, we had planned this amount at the beginning of the year, and we are trending along with our forecast. Free cash flow management is on schedule. Next, I would now like to see the financial results by segment. For order intake for Power Systems, we had some carryover for large projects, as well as the gas turbine is doing fairly well in terms of the order intake. An uptake of JPY 347.6 billion versus last year, and this amounts to JPY 1,104.1 billion. For Industry and Infrastructure, JPY 1,259.5 billion, a deterioration of approximately JPY 100 billion. Engineering-related major projects have now been postponed or delayed, and so this has resulted in some of our mid-to-mass products being delayed.
For Aircraft, Defense, and Space, we stand at JPY 322.7 billion. This is a minus, for the full year, we will be able to absorb this deterioration. Moving on to revenue. In Industry and Infrastructure, this again is the drop of the mass medium lot manufacturing, we stand at JPY 1,312.8 billion. For Aircraft, Defense, and Space, we are trending on par with last year's numbers. For profit from business. Industry has deteriorated, and this has pushed the numbers down. MRJ, SpaceJet, basically, related activities have also impacted in terms of losses. For Power Systems, we are improving profit. Within Power Systems, we have the Trent 1000 related activities. Again, we have made adjustments to proceed or handle Trent 1000. Moving on to the balance sheet.
For the balance sheet, we take the TOP approach, and this is the main pillar that we focus on for TOP. We need to efficientize these numbers, and that has been our focus. Especially in relation to the current assets, we are seeing much more efficientization. For instance, in terms of inventories, JPY 818.4 billion. We have the trade payables as well as the contract liabilities. The total of this is approximately JPY 1.6 trillion. It's about double inventories, and so inventories themselves is basically an investment of zero. In the past, these two numbers were on par, and so where we stand now is that we are collecting the trade payables and interest-bearing debt is being suppressed as a result. Further, we will efficientize current assets.
For fixed assets, this will also, in terms of asset management, become much more efficient, and this will be our approach for the future. In comparison to the year-end, JPY 400 billion uptake for the full year, because for Q3, usually we have more inventory on hand, and there will be some timing delays as well. Some attributes for this current quarter, we have IFRS 16, which is lease, so this amounts to an increase of JPY 100 billion , as well as with Hitachi, with the South Africa project. We have settled out of court, and for Q3, all of the numbers through the settlement have yet to be reflected. That is why we are seeing a bloated BS for the time being. For interest-bearing debt, we stand at JPY 1.4 trillion , so this is again comparing as to year-end.
We have increased by JPY 348.9 billion. Again, as I mentioned in cash flow, we are trending as scheduled so b y the end of the full fiscal year, we believe that we will be below JPY 661 billion, and we will be able to suppress interest-bearing debt as a result. Moving on to key financial measures and cash flows. Equity ratio, 23.7%. This is a lower ratio. This is in relation with the Nagano procedures, and everything is yet to be fixed. Once again, the balance sheet has bloated as a result. Having said that, equity ratio is dropping, and this is due to some accounting technicalities, and it is going the opposite direction. In 2020, the stock transfer will be complete, and this will be adjusted as a result in 2020.
The 23.7% at that point in time will rise to 25% or 26%. In relation to SpaceJet assets, much has been done to contain and impair. As a result, we believe that the impact on the financial key measures is quite minimal. Interest-bearing debt is JPY 1,014 billion, and the full-year forecast will land around about JPY 600 billion. D/E ratio is as you see here. For operating and investment and free cash flows, again, we have cited the numbers on the bottom half of this slide, and we do put emphasis on cash flow in our management activities, and we have sustained this activity. For this fiscal year in comparison to last fiscal year, the cash flow is now much more improved because of the investment fees, and cash flow is much more healthier.
Free cash flow is negative, but I have just cited the reasons for this occurring. Again, to be repetitive, versus plan, we are on schedule for free cash flow management. Once again, for the full-year forecast, JPY 50 billion was the original schedule. We have increased this to JPY 100 billion. Next, I would like to talk about order intake as well as order backlog. Please take a look at page nine. Regarding order intake, power, gas turbine, steam power, and nuclear power increased. As far as industry and infrastructure is concerned, engineering-wise, as mentioned before, a large project has been postponed, and also, turbochargers and machine tools, which are related to automotive industry, are in a challenging situation. Regarding aircraft defense and space, naval ships, defense aircraft, and missile systems went down, but we believe that we can catch up during the fiscal year.
Please take a look at the right-hand side, which is change in order backlog. There has been a decrease of about JPY 280 billion. This is the comparison of Q3. Heading toward Q4, we will be accumulating the backorder so that we will be able to recover the dip that we have encountered in the Q3 . Vestas Offshore is the equity method company. If we include that, there has been a backlog of about JPY 180 billion. Next, revenue by segment. Power Systems-wise, compressors and aero engines increased. Figure-wise, it has increased slightly. Industry and Infrastructure segment-wise, there has been a decrease in the mass of production items. Aircraft, Defense, and Space, there has been increase of commercial aircraft. The Boeing 737 was facing different challenges, regarding the part that we are in charge of, it is a minor portion.
The impact of Boeing 737 on commercial aircraft is negligible. Let's look at profit from business activities. As you can see, because of the impairment that we have incurred on our jet business, SpaceJet, industry went down, but power went up. We were able to net-net and be on par with the previous year. Based on this, I would like to talk about the forecast of FY 2019. Please turn to page 13. Regarding order intake, there will be increase in power, but in the industry and infrastructure, the major project will be delayed and there has been a reduction in the mass production item therefore t he forecast will be changed from JPY 4,300 billion-JPY 4,050 billion, but then there will be an increase of JPY 200 billion.
In terms of the profit, or rather the revenue, it will be downward revised from JPY 4,300 billion- JPY 4,150 billion, minus about JPY 115 billion. In terms of SpaceJet in Q4, there will be the additional cost in Q4, and there will be additional impairment. Therefore, full year-wise, the profit will be zero, and regarding profit attributable to owners of the parent, it will be JPY 100 billion. There will be upward revision of free cash flow of JPY 200 billion. Also, the dividend will be increased by JPY 20 up to JPY 150. Regarding our SpaceJet, you can take a look at how we factored this item in, and this is a repeat, so I will be very succinct. If I may delve into it, please turn to the supplementary sheet, page 17. In the cumulative figure of Q3, what were the numbers that we have registered?
JPY 175.3 billion has been divided into the losses of current fiscal year of JPY 97.5 billion and we have JPY 77.8 billion for the impairment loss for the assets on the BS. In terms of the full-year loss, we have estimated about JPY 80 billion.
Cash flow is more than JPY 100 billion. Some will be transferred to the asset. That was the plan. We have decided otherwise and have all the numbers registered under losses. Last year, we have registered assets. The assets that were registered before the previous year, we totaled the loss to be JPY 175.3 billion. Regarding the losses that we have incurred in the past, we believe that the potential for recovering is lost, therefore, we have impaired that portion. Regarding Mitsubishi Aircraft, we understand that we will be not able to recover. Therefore, we have registered the reserve for the losses. Therefore, the profit before income taxes is JPY 175.4 billion in the negative. Therefore, in terms of the profit, it's at JPY 3.3 billion. In terms of the full-year forecast, you can see the numbers on the right.
For the business activities, - JPY 270 billion. SpaceJet wise, the profit attributable to owners of the parent will be about -JPY 60 billion. If you can turn to the forecast page again. Please turn to page 15. In terms of order intake, revenue, and profit from business activities, you see the details. If you can kindly look at the numbers, I do believe that you will be able to understand the details. As you can see, simply put, for Power Systems, the profit from business activities, we have estimated JPY 140 billion, but we have added JPY 20 billion and upward revised to JPY 160 billion. For Industry Infrastructure, order intake, revenue, and profit from business activities, all these component-wise, we have downward revised as compared to the beginning of the fiscal year.
Aircraft defense and space, we have incurred the losses for the SpaceJet, therefore, we have dramatically underperformed our budget. In total, as mentioned before, you see the revisions that I have already explained to you. Please turn to page 18 of the supplementary document. We are aiming on achieving TOP. Amidst such a backdrop, we believe that the balance sheet will be very important, and optimization of the balance sheet is quite mandatory. We have pursued this, and especially in terms of the current asset, looking at the cash conversion cycle, we believe that we are attaining efficiency. Talking about the risk assets, we did have risk assets on our book, and one is a South Africa project. Hitachi, we had the right to ask for JPY 560 billion from Hitachi. Also, we have SpaceJet losses.
Within our factories, there were low operating assets. These were the assets that we have identified, and they have been included in quite a magnitude on our balance sheet. Regarding South Africa project, we were able to settle the case with Hitachi. In actuality, the risk has been nullified. Regarding SpaceJet, based on the business plan we have at hand, we have to iron out the details still. In the end of this fiscal year, related to the assets of SpaceJet, the risk will be zero. About the fixed assets, for the low operating assets, we can liquidify them. Also, we can sell off those assets, so we will be able to shrink our balance sheet. Regarding the optimization of balance sheet, we will continue our effort. That's all for my presentation.