To Our Shareholders
Thank you very much for your continued patronage.
We would like to extend our deepest sympathies to all those who have been affected by the coronavirus disease. Here we inform you of the 43rd financial statement.
In the 43rd term, our group was able to achieve the highest sales and profit ever since our founding, surpassing the previous year despite the impacts of COVID-19 on society and the economy symbolized by lockdown in Shanghai in the first half and impacts of adjustments in semiconductor demand and tightening of semiconductor regulations in the US and China in the second half.
Our company group released the "updated version of the medium-term management plan" correcting the target figures from the second year onwards, etc. of the initial medium-term management plan (from the fiscal year ending March 2022 to the fiscal year ending March 2024) and reviewing them for stronger growth in May 2022, and we have implemented aggressive investment in increased production and business investment to support the strong growth. In this term, we have promoted investment to increase production in the Changshan area, China and construction of a new factory for power semiconductor substrates in Sichuan, etc. and have promoted the steady creation of mass production sites in areas other than China such as Ishikawa and Kumamoto in Japan and Malaysia. In this term, we acquired 100% ownership of affiliated companies accounted for by the equity-method, OHIZUMI MFG. CO., LTD. and TOYO KNIFE CO., LTD., and successfully completed listing of a subsidiary company of a parts cleaning business in China, Ferrotec (Anhui) Technology Development Co., Ltd. on Shenzhen ChiNext in December 2022.
We could not have implemented these strategies without the understanding and support of our shareholders.
Our company group will pursue business growth and continue to be a company that gives shareholders the pleasure of growing.
It is our hope that all shareholders will give even more special support.
He Xian Han, President and Group CEOJuly on an auspicious day, 2023