I would like to express our sincere gratitude to our shareholders for their continued
support of our operations.
In the fiscal year ended March 31, 2023, the Japanese economy remained uncertain,
mainly due to rising prices, although social and economic activities were normalizing
and there were signs of a moderate recovery in the economy.
The world economy also remained uncertain, chiefly reflecting rising energy prices
and other prices attributable to the prolonged war in Ukraine, in addition to concern
over economic downturns chiefly due to monetary tightening worldwide.
Under these conditions, in the CMK Group's main business of products for
automotive use, the operating environment was difficult due to a continued decline in production at auto manufacturers, among other factors, which resulted from
semiconductor shortages and supply chain disruptions.
Notwithstanding the challenging business conditions, the CMK Group saw an
increase in sales of products designed for powertrains and driving safety, resulting in consolidated net sales of 83,840 million yen (up 2.9% year on year).
On the profit front, operating income amounted to 2,605 million yen (down 13.7% year
on year), mainly reflecting a decrease in capacity utilization at production factories and rises in energy prices.
Ordinary income came to 2,622 million yen (down 20.6% year on year) and profit attributable to owners of parent was 1,588 million yen
(down 43.0% year on year), mainly attributable to a decrease in operating income.
Despite a difficult business environment and uncertain economic conditions, demand in the automotive printed circuit board (PCB)
market, a key market for the CMK Group, is anticipated to expand over the medium to long term.
To capture this demand and establish a growth cycle, the Group will continue to increase production capacity and implement
internal reforms. We ask our shareholders for their continued understanding and support.
To Our Stakeholders, we look forward to your continued support.
CMK Corporation
Isao Osawa President