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| Consolidated | FY2023/3(results) | |
|---|---|---|
| Net Sales | 284,603 | 10.8% |
| Operating Income | 13,796 | (36.1%) |
| Ordinary Income | 15,602 | (31.3%) |
| Profit Atributable to Owners of Parent | 11,512 | (30.8%) |
% is Year on Year
Performance overview for the fiscal year ended March 31, 2023
In the fiscal year ended March 31, 2023, the business environment surrounding the LINTEC Group rapidly deteriorated, mainly due to surges in prices of raw materials and fuels as well as the decreased willingness of consumers to purchase products and services, reflecting rising prices. These factors arose against the backdrop of Russia’s invasion to Ukraine, the confrontation between the U.S. and China, interest rate policies of North America and Europe to restrain inflation, and supply chain disruption. Although net sales increased, partly attributable to business acquisitions in the U.S. and the depreciation of the yen, in terms of profitability, rigorous efforts for a comprehensive cost reduction and price revisions were more than offset by substantial hikes in prices of pulp and other raw materials and fuels. Moreover, profits shrank considerably, mainly due to a rapid decline in demand for electronic- and optical-related products, which had been a driving force for overall performance, and an increase in the operational loss linked to a fall in the utilization rate of production equipment.
Segment overview for the fiscal year ended March 31, 2023
| Printing and Industrial Materials Products (Year on Year) | |
|---|---|
| Net Sales |
¥173,324
million (up 30.9%)
|
| Operating Income |
¥2,958
million (up 115.4%) |
| Printing & Variable Infomation Products Operations (Year on Year) | |
|---|---|
| Net Sales |
¥140,010
million (up 38.2%) |
In the Printing & Variable Information Products Operations, Regarding adhesive products for seals and labels, in Japan, demand for use, for example, in food and beverage campaigns was weak. Even so, there was progress in the adoption of various types of environmentally friendly products. In addition, demand in the logistics and pharmaceutical industries remained firm. In overseas markets, significant growth was achieved mainly due to the effect of an acquisition in the U.S., coupled with solid sales in ASEAN.
| Industrial & Material Operations | |
|---|---|
| Net Sales |
¥33,314
million (up 7.0%) |
In the Industrial & Material Operations, sales of window film were firm, and demand for graphic films increased. In overseas markets, Sales of window film and automobile-use adhesive products remained firm, in the U.S. and ASEAN region.
Segment operating income
Segment operating income increased compared to the previous fiscal year, mainly due to a significant improvement in the profit and loss of U.S.-based subsidiaries, despite a rise in various raw material prices and logistics costs.
| Electronic and Optical Products (Year on Year) | |
|---|---|
| Net Sales |
¥78,053
million (down 14.6%) |
| Operating Income |
¥12,463
million (down 35.0%) |
| Advanced Materials Operations (Year on Year) | |
|---|---|
| Net Sales |
¥61,455
million (down 8.9%) |
In the Advanced Materials Operations, sales of semiconductor-related adhesive tape and semiconductor-related equipment, multilayer ceramic capacitor-related tape were weak, largely affected by sluggish demand for smartphones and personal computers from autumn.
| Optical Products Operations (Year on Year) | |
|---|---|
| Net Sales |
¥16,597
million (down 30.7%) |
In the Optical Products Operations, sales of automotive touch screen products grew, but sales of optical display-related adhesive products remained weak, largely affected by sluggish demand for products used for large-screen TV units and smartphones.
Segment operating income
Segment operating income decreased compared to the previous fiscal year, influenced by the decreased rate of operations of non-consolidated production facilities.
| Paper and Converted Products (Year on Year) | |
|---|---|
| Net Sales |
¥33,225
million (up 0.6%) |
| Operating Income |
¥(1,688)
million (-) |
| Fine & Speciality Paper Products Operations (Year on Year) | |
|---|---|
| Net Sales |
¥16,134
million (up 5.2%) |
In the Fine & Specialty Paper Products Operations, although sales of mainstay color paper for envelopes were on par with the level of the same period a year ago, oil- and water-resistant paper for the fast food industry and colored construction paper for schoolchildren showed solid performances.
| Converted Products Operations (Year on Year) | |
|---|---|
| Net Sales |
¥17,090
million (down 3.4%) |
In the Converted Products Operations, in casting paper for carbon fiber composite materials, demand for use in sports and leisure was firm. Sales of release paper for electronic materials and release film for optical-related products were weak due to sluggish demand from autumn.
Segment operating income
Segment operating income resulted in operating loss, mainly due to the negative impact of the price rises for raw materials and fuel such as pulp.
Forecasts of consolidated business results for the fiscal year ending March 31, 2024
| Consolidated | FY2024/3(forecasts) | |
|---|---|---|
| Net Sales | 275,000 | (3.4%) |
| Operating Income | 9,000 | (34.8%) |
| Ordinary Income | 10,000 | (35.9%) |
| Profit Atributable to Owners of Parent | 5,500 | (52.2%) |
% is Year on Year
Looking at the fiscal year ending March 31, 2024, given that a significant impact from the weakness of the electronics market and persistently high prices of raw materials and fuels is expected, the Group anticipates a rise in net sales and a decline in profits. Notwithstanding the more challenging outlook for the next fiscal year in comparison to the previous fiscal year, the Group will strive to improve its performance by aggressively implementing the range of measures set forth as key initiatives under the basic policy of its long-term vision, LINTEC SUSTAINABILITY VISION 2030.