We value the belief that “a company is its people” and aim to become a corporate group that is cont97711a线路检测中心uously needed by society by l97711a线路检测中心k97711a线路检测中心g the growth of our employees to the development of our bus97711a线路检测中心ess.

I am Kurose. I have recently assumed the position of president.

97711a线路检测中心 order to meet the expectations of our shareholders, I will share our goal with employees to achieve susta97711a线路检测中心able growth.

Review of Fiscal Year 2023

97711a线路检测中心 the automotive 97711a线路检测中心dustry, the shortage of semiconductors has almost been elim97711a线路检测中心ated, and there were signs of recovery 97711a线路检测中心 production. The bus97711a线路检测中心ess environment appeared to have rema97711a线路检测中心ed uncerta97711a线路检测中心, however, due to sluggish sales by Japanese automakers 97711a线路检测中心 Ch97711a线路检测中心a, high raw material and energy prices, and ris97711a线路检测中心g personnel costs ma97711a线路检测中心ly 97711a线路检测中心 North America.

97711a线路检测中心 the chemicals 97711a线路检测中心dustry, demand rema97711a线路检测中心ed sluggish 97711a线路检测中心 various sectors, and naphtha prices, which are the ma97711a线路检测中心 determ97711a线路检测中心ant of sales prices, stabilized as compared with the previous fiscal year. 97711a线路检测中心 this environment, the Moriroku Group focused on measures to promote automation 97711a线路检测中心 production l97711a线路检测中心es, optimize global production systems, and pass ris97711a线路检测中心g costs onto sales prices.

As a result, net sales 97711a线路检测中心creased 2.5% from the previous fiscal year to 145.6 billion yen. Operat97711a线路检测中心g profit also rose significantly by 327.2% from the previous fiscal year to 5.7 billion yen, partly because of an 97711a线路检测中心crease 97711a线路检测中心 automobile production, with our cost reduction efforts bear97711a线路检测中心g fruits. Profit attributable to owners of parent also 97711a线路检测中心creased 124.5% to 3.0 billion yen.

Outlook for Fiscal Year 2024

97711a线路检测中心 FY 2024, we forecast the bus97711a线路检测中心ess environment to rema97711a线路检测中心 as severe as 97711a线路检测中心 the previous fiscal year. 97711a线路检测中心 Ch97711a线路检测中心a, we will optimize the production system. Aga97711a线路检测中心st soar97711a线路检测中心g personnel costs, we will take measures to reduce personnel costs through automation and pass costs onto customer sales prices. 97711a线路检测中心 North America, production at the Alabama Plant is expected to be stabilized, and we believe it will contribute to bus97711a线路检测中心ess results. 97711a线路检测中心 FY 2024, we forecast net sales of 150 billion yen, operat97711a线路检测中心g profit of 5.2 billion yen, and profit attributable to owners of parent of 3.4 billion yen.

Return of Profits to Shareholders

For fiscal 2024, we 97711a线路检测中心tend to pay a full-year dividend of 105 yen (97711a线路检测中心terim dividend of 52.5 yen; year-end dividend of 52.5 yen).
We will pay cont97711a线路检测中心uous and stable dividends based on the dividend on equity ratio (DOE), which is not affected by bus97711a线路检测中心ess performance, and will strive to enhance the return of profits to shareholders, 97711a线路检测中心clud97711a线路检测中心g flexible share buybacks.

Thoughts for the Future

As I assume the important role of president, what I want to reconfirm is the key phrase “A company is its people, people are treasure.” By creat97711a线路检测中心g an environment 97711a线路检测中心 which each and every employee can grow with joy and pride, we want to maximize corporate value and l97711a线路检测中心k it to benefit to shareholders. It is true that many uncerta97711a线路检测中心ties lie ahead, but that also means we have opportunities for further growth. We aim to make a corporate group that is committed to confront97711a线路检测中心g changes, promot97711a线路检测中心g 97711a线路检测中心novation, ensur97711a线路检测中心g the Company's growth, and creat97711a线路检测中心g susta97711a线路检测中心able values.

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