Performance Highlights

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% is Year on Year

During the fiscal year ended March 31, 2024, solid economic performance in the United States, supported by a favorable employment environment and robust personal consumption, helped bolster the global economy. Recovery in Europe remained sluggish due to monetary tightening policies intended to control inflation. The downturn in China’s real estate market continued to cast a shadow over personal consumption there, leading to a lackluster economy. In Japan, meanwhile, economic recovery was extremely slow due to flat personal consumption, which was impacted by the surging prices of food and daily necessities triggered by yen depreciation and other factors. Net sales benefitted from price adjustments, the weaker yen, and, from the third quarter on, a recovery in orders, mainly for semiconductor and electronic component products and adhesive products for seals and labels. However, the improvement in the second half failed to offset poor first-half performance, resulting in lower revenues than in the previous fiscal year. Profits also fell year on year, with the decline in sales volumes compounded by the persisting high cost of fuel and raw materials, such as pulp, and by reduced use of production equipment capacity due to fewer orders.

We recorded an operating loss of 1,115 million yen, unchanged year on year, due in part to lower sales volumes in the US and the continuing high cost of key raw materials and the rising cost of logistics in Japan.

Operating income was 11,661 million yen, down 6.4% year, due in part to fewer orders received, which led to losses accompanying lower utilization rates at production facilities.

Operating income, at 21 million yen (unchanged year on year) also stayed on par with the previous year, as price adjustments helped to offset continued high fuel costs and higher logistics costs.

% is Year on Year