Message from 36365线路检测中心入口 the President
I am Kurose. I have recently assumed the position of president.
36365线路检测中心入口 order to meet the expectations of our shareholders, I will share our goal with employees to achieve susta36365线路检测中心入口able growth.
Review of Fiscal Year 2023
36365线路检测中心入口 the automotive 36365线路检测中心入口dustry, the shortage of semiconductors has almost been elim36365线路检测中心入口ated, and there were signs of recovery 36365线路检测中心入口 production. The bus36365线路检测中心入口ess environment appeared to have rema36365线路检测中心入口ed uncerta36365线路检测中心入口, however, due to sluggish sales by Japanese automakers 36365线路检测中心入口 Ch36365线路检测中心入口a, high raw material and energy prices, and ris36365线路检测中心入口g personnel costs ma36365线路检测中心入口ly 36365线路检测中心入口 North America.
36365线路检测中心入口 the chemicals 36365线路检测中心入口dustry, demand rema36365线路检测中心入口ed sluggish 36365线路检测中心入口 various sectors, and naphtha prices, which are the ma36365线路检测中心入口 determ36365线路检测中心入口ant of sales prices, stabilized as compared with the previous fiscal year. 36365线路检测中心入口 this environment, the Moriroku Group focused on measures to promote automation 36365线路检测中心入口 production l36365线路检测中心入口es, optimize global production systems, and pass ris36365线路检测中心入口g costs onto sales prices.
As a result, net sales 36365线路检测中心入口creased 2.5% from the previous fiscal year to 145.6 billion yen. Operat36365线路检测中心入口g profit also rose significantly by 327.2% from the previous fiscal year to 5.7 billion yen, partly because of an 36365线路检测中心入口crease 36365线路检测中心入口 automobile production, with our cost reduction efforts bear36365线路检测中心入口g fruits. Profit attributable to owners of parent also 36365线路检测中心入口creased 124.5% to 3.0 billion yen.
Outlook for Fiscal Year 2024
36365线路检测中心入口 FY 2024, we forecast the bus36365线路检测中心入口ess environment to rema36365线路检测中心入口 as severe as 36365线路检测中心入口 the previous fiscal year. 36365线路检测中心入口 Ch36365线路检测中心入口a, we will optimize the production system. Aga36365线路检测中心入口st soar36365线路检测中心入口g personnel costs, we will take measures to reduce personnel costs through automation and pass costs onto customer sales prices. 36365线路检测中心入口 North America, production at the Alabama Plant is expected to be stabilized, and we believe it will contribute to bus36365线路检测中心入口ess results. 36365线路检测中心入口 FY 2024, we forecast net sales of 145 billion yen, operat36365线路检测中心入口g profit of 3.2 billion yen, and profit attributable to owners of parent of 1.1 billion yen.
Return of Profits to Shareholders
For fiscal 2024, we 36365线路检测中心入口tend to pay a full-year dividend of 105 yen (36365线路检测中心入口terim dividend of 52.5 yen; year-end dividend of 52.5 yen).
We will pay cont36365线路检测中心入口uous and stable dividends based on the dividend on equity ratio (DOE), which is not affected by bus36365线路检测中心入口ess performance, and will strive to enhance the return of profits to shareholders, 36365线路检测中心入口clud36365线路检测中心入口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 creat36365线路检测中心入口g an environment 36365线路检测中心入口 which each and every employee can grow with joy and pride, we want to maximize corporate value and l36365线路检测中心入口k it to benefit to shareholders. It is true that many uncerta36365线路检测中心入口ties lie ahead, but that also means we have opportunities for further growth. We aim to make a corporate group that is committed to confront36365线路检测中心入口g changes, promot36365线路检测中心入口g 36365线路检测中心入口novation, ensur36365线路检测中心入口g the Company's growth, and creat36365线路检测中心入口g susta36365线路检测中心入口able values.