Growth in domestic sales and a favorable exchange rate fueled a 9.5 percent increase in earnings at Hamamatsu Photonics KK in fiscal 2015.

For the fiscal year that ended Sept. 30, Hamamatsu reported profits of ¥16.6 billion (about $134.7 million), compared to ¥15.2 billion in fiscal 2014.

Net sales were ¥120.7 billion (about $979.6 million), up 7.7 percent from ¥112.1 billion in fiscal 2014.

The company reported increased sales in all of its major segments, including a 15.5 percent rise for imaging and measurement instruments; 6.9 percent rise for photomultiplier tubes, imaging devices and light sources; and a 5.7 percent rise in optosemiconductor devices.

Photomultiplier tube sales lagged in the oil and gas industry amid a global slowdown in oilfield development, but this was counteracted by brisk sales for environmental analysis applications. Meanwhile, demand grew steadily for inspection and monitoring systems such as blood analyzers.

The company anticipates net sales of ¥126.9 billion (about $1 billion) in fiscal 2016.

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