Adhesive products for labels using Hot-melt-type adhesivessince expanded our lineup of products that use this same adhesive. In March 2025, we introduced a label material that can be applied at temperatures as low as -5°C and is repositionable and removable. These products have been highly rated by customers and are also generating synergies with our core Printing & Variable Information Products Operations.31, 2022, strong orders driven by logistics disruptions and rising raw material prices, combined with the acquisition effect, brought the business back into the black. However, in the fiscal year ended December 31, 2023, consumer demand weakened sharply due to inflationary concerns, causing a significant drop in orders and resulting in a ¥3.2 billion operating loss. In the fiscal year ended December 31, 2024, Europe China South America North America Japan Other Asia-Pacific countries Source: “The Japanese Label Market 2025,” Label Shimbun22StrategiesMACTAC AMERICAS operates manufacturing and cutting sites in the United States, Mexico, and Canada and operates a range of businesses centered on adhesive paper and film for printing, primarily targeting the North American market. With proprietary adhesive formulations and advanced high-speed coating technologies, the company has established a strong position in the region’s label market. Its proprietary adhesive is a hot-melt adhesive, which is solid at room temperature and applied in molten form. Because it is solventless, it has a minimal environmental impact and eliminates the need for drying processes, which also reduces CO₂ emissions during manufacturing. In Japan, LINTEC launched CHILL AT, a label material that maintains strong adhesion on cold and damp surfaces, in 2020. The product uses MACTAC’s hot-melt adhesive, and we have Despite such synergies, the MACTAC Group continues to face profit margin pressures, largely due to goodwill amortization costs of approximately ¥30.0 billion incurred from the acquisition. In terms of yen, this amortization has exceeded ¥4.0 billion for the two consecutive years beginning in the fiscal year ended December 31, 2023, due to the currency’s depreciation. Looking back, in the fiscal year ended December Since the 1990s, LINTEC has been steadily expanding overseas, initially focusing on Asia and, more recently, increasing its presence in North America through M&A and other strategies. As a result, our overseas sales ratio rose to 63.9% in the fiscal year ended March 31, 2025— an increase of approximately 25 percentage points compared with the fiscal year ended March 31, 2015. The United States accounts for roughly 40% of total overseas sales. This figure reflects the impact of MACTAC AMERICAS, LLC, which became part of the LINTEC Group in December 2016. As shown in the graph on the right, North America is one of the world’s largest label markets in terms of shipment volume, with expectations for continued stable growth. Investors frequently ask about the MACTAC Group’s performance, whose business base and production capacity in North America we have been steadily strengthening and expanding, so here we provide an overview of its strengths and current efforts to improve profitability.MACTAC AMERICAS’ StrengthsApproach to Improving ProfitabilityGrowth Field 1Global Shipments of Labels by Region(2023)North America Other17.0%Label-Related Business in North AmericaSPECIAL FEATURE
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