202020212020202117.0Operating ResultsIn the fiscal year ended March 31, 2021, the world economy was severely affected by the COVID-19 pandemic and U.S.–China trade friction, but showed signs of recovering in the second half. In Japan, the economy began to recover from autumn with support by exports to China and the U.S. and consumer spending, but overall conditions remained challenging inside and outside Japan. Against this backdrop, consolidated net sales declined 2.0% year on year to ¥235.9 billion, as the pandemic led to weaker sales of products, despite strong demand for semiconductor- and elec-tronic component-related products. Operating income increased 10.3% to ¥17.0 billion, thanks to higher sales in Advanced Materials Operations and lower prices for pulp and petrochemical raw mate-rials. Profit before income taxes expanded 19.3% to ¥16.6 billion, reflecting the growth in operating income and reductions in loss on retirement of non-current assets and impairment loss. Income taxes following the application of tax effect accounting were ¥5.3 billion, and profit attributable to owners of parent amounted to ¥11.4 billion, an increase of 18.6%. Net income per share was ¥157.81, up from ¥133.20 in the previous fiscal year, and ROE increased from 5.0% to 5.9%. Performance by Business SegmentPrinting and Industrial Materials ProductsIn Printing & Variable Information Products Operations, sales of adhesive products for labels were firm in Japan for food and online sales businesses, but declined for pharmaceuticals, cosmetics, and toiletries due to lower demand, leading to an overall slump in sales. Overseas, sales were solid in the U.S., but lackluster in China and ASEAN countries. the third quarter for window film motorcycle- and automobile-use adhesive products but failed to offset the drop in sales in the first half, resulting in a sharp decline for the year. Due to the Net Sales¥ BillionIn Industrial & Material Operations, demand rebounded from 240.7Printing and Industrial Materials Products–6.7Paper and Converted ProductsElectronic –5.2and Optical Products+7.1(Fiscal years ended March 31)postponement and cancellation of various events, demand was sluggish for decorative film. As a result, segment sales totaled ¥115.7 billion (down 5.5% year on year) and operating losses were ¥0.2 billion.Electronic and Optical ProductsIn Advanced Materials Operations, stronger demand related to 5G, PCs, and smartphones led to brisk sales of semiconductor-related adhesive tape and equipment, as well as multilayer ceramic capacitor-related tape. In Optical Products Operations, optical display-related adhesive products were severely impacted by weak demand in the first half, but from the third quarter, demand rebounded in large-size TV and smartphone applications, finishing the year on a par with the pre-vious fiscal year. Accordingly, segment sales were ¥89.0 billion (up 8.6% year on year) and operating income was ¥14.4 billion (up 31.5% year on year).Paper and Converted ProductsIn Fine & Specialty Paper Products Operations, sales trended weakly due to lackluster overall demand for mainstay color paper for envelopes, colored construction paper, and oil- and water-resistant paper. the third quarter for casting paper for synthetic leather used by auto manufacturers, but the business was heavily impacted by weak demand for casting paper for carbon fiber composite materials used in aircraft and release paper for general-use adhesive products. As a result, segment sales amounted to ¥31.2 billion (down 14.2% year on year) and operating income was ¥2.7 billion (down 21.8% year on year). In Converted Products Operations, demand began to recover in 15.4235.9Operating Income¥ BillionMaterials ProductsPaper and Converted Products–0.8Printing and Industrial Electronic and –1.2Optical Products+3.5Adjustment+0.1(Fiscal years ended March 31)72Management’s Discussion and Analysis
元のページ ../index.html#74