27 December 2021
Our Appreciation for Your Support This Year
The year has flown by, and we only have a few days left. The business environment surrounding our group this year has been challenging due to negative factors such as soaring raw material and logistics costs. However, our business results for the second quarter of FY2021 showed a significant increase in both sales and profit compared to the previous year, thanks to the recovery of demand, which had dropped significantly in the same period of the previous year due to the impact of the novel coronavirus, in addition to our thorough cost reduction efforts.
Due to the difficult situation in the Automotive business, where our major customers were forced to reduce production one after another due to semiconductor supply shortages, both net sales and profits fell short of the initial forecasts of the fiscal year, resulting in a downward revision of the business forecast. However, the Environment & Energy, Infocommunications, and Electronics businesses are showing steady growth, giving us high expectations for the future.
Once again, I would like to express my deepest gratitude for the tremendous support and cooperation we have received from everyone this year.
There are still concerns about the spread of the Omicron variant. Please take care of your health and have a happy new year.