To our esteemed shareholders,
We sincerely appreciate your continued support. In the current consolidated fiscal year, the Japanese economy has shown signs of normalization in social economic activities and a gradual recovery, despite ongoing inflation and persisting uncertainties ahead. Globally, uncertainties continue due to prolonged situations like the Ukraine crisis causing spikes in prices and energy costs, as well as concerns about economic downturns caused by worldwide financial tightening.
In this challenging environment, our group's core automotive sector has faced difficulties, with continued production decreases by automobile manufacturers due to semiconductor shortages and supply chain disruptions. Despite these challenges, our group has seen an increase in sales in the powertrain and driving safety segments, resulting in a consolidated net sales of 83.84 billion yen, a 2.9% increase compared to the previous period.
On the profit side, factors such as reduced operating rates at production facilities and the impact of rising energy prices have led to an operating profit of 2.65 billion yen, a 13.7% decrease compared to the previous period. Consequently, ordinary profit decreased by 20.6% to 2.622 billion yen, and net income attributable to the parent company shareholders for the current period decreased by 43.0% to 1.588 billion yen.
Amid the ongoing uncertainties in the business environment and the economy, the automotive PCB market, a key sector for our group, is expected to expand in the medium to long term. To capture this demand and establish the growth cycle of our group, we will continue to enhance production capacity and promote internal reforms. We kindly ask for your continued understanding and support.
President and CEO: Isao Osawa