Globeride saw its sales grow by 2 percent to 42.3 billion yen (€349.6m-$370.3m) during the six months ended Sept. 30, thanks in part to the improving economy in Japan, but foreign exchange losses of more than two billion yen caused its net income to drop by 54 percent to ¥730 million (€6.03m-$6.39m). Excluding extraordinary items, the former Daiwa Seiko raised its net earnings by 29 percent to ¥2,281 million (€18.9m-$20.0m), with the gross margin expanding by 0.4 percentage points to 37.8 percent.