Message to Shareholders & Investors

To all our stakeholders, we would like to express our deepest gratitude for your continued support and encouragement.

Consolidated Financial Results for the First Half of FY2023

For the first half of FY2023, we posted consolidated net sales of ¥128.0 billion and operating income of ¥8.6 billion (operating income ratio of 6.7%).
Sales increased 8.3% year-on-year due to strong performance in the Chain and Mobility segments and the depreciation of the yen, and operating income increased 2.9% year-on-year, but the operating income ratio dropped to 6.7% (7.0% in the same period last year) due to higher personnel expenses.

Consolidated Operating Results Forecast for FY2023

We expect the global economy in the second half of FY2023 to become increasingly stagnant, mainly in the U.S., Europe, and China. The Japanese economy is also expected to grow at a slow pace due to the impact of overseas economies.
In light of these circumstances, considering the first half results and the current business environment, we have revised our full-year consolidated earnings forecasts as follows.

Net sales ¥263.0 billion (4.5% increase year-on-year)
Operating income ¥16.1 billion (15.2% decrease year-on-year)

Toward achieving the " Mid-term Management Plan 2025," our group will strive to strengthen the profitability of existing businesses, promote new business development and product development, and enhance manufacturing. In addition to strengthening our growth potential, we will aim to become a corporate group that contributes to solving social issues.

We look forward to the continued support of our shareholders as we pursue these objectives.

November 2023
Kenji Kose, Chairman and Representative Director
Takatoshi Kimura, President and Representative Director