Looking back on FY2022, the second year of the Medium-term Business PlanIn April 2021, the LINTEC Group launched its medium-term business plan “LSV 2030 - Stage 1,” covering three years ending in March 2024, as a milestone for the realization of its long-term sustainability vision “LSV 2030,” targeting the year 2030. Given the excellent business performance in the first year of LSV 2030, the numerical goal for the final year was achieved ahead of schedule, and we made an upward revision to our management goal. However, the Russian invasion of Ukraine broke out in February 2022, triggering skyrocketing raw material and fuel prices on a global scale, and the high-interest rate policy accelerated in many countries to control inflation. As a result, our business environment deteriorated. Meanwhile, the Japanese economy saw an extremely moderate recovery on the back of poor personal consumption partly due to rising prices reflecting the weaker yen.In particular, since early autumn of last year, the electronic and optical products business has been adversely affected by the shrinkage in demand for smartphones and personal computers. Additionally, our U.S. subsidiary, which had performed well, also suffered a major impact from the deceleration of personal consumption on the back of rising interest rates.Under these circumstances, the consolidated business results for FY2022 observed significant year-on-year decreases in operating income and ordinary income despite record-high net sales partly due to the effect of the acquisition conducted by a U.S. subsidiary and the impact of depreciation of the yen. Recognizing the significance of building a robust corporate structure that enables us to grow and make profits in any business environment, we will continue moving forward positively in a fresh state of mind toward the realization of our long-term vision.04Building a robust corporate structure that enables growth even in a difficult business environment.We strive to accelerate our initiatives for realizing our long-term vision “LSV 2030.”Makoto HattoriRepresentative Director, President, CEO and COOLINTEC CORPORATIONMessage from the President
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