Top Message

In fiscal 2023, the normalization of social and economic activities progressed due to the convergence of COVID-19.
On the other hand, we were hit by the further expansion of geopolitical risks in Russia, Ukraine and the Middle East, as well as many natural disasters.
Against this backdrop, in the 17th Mid-Term Business Plan launched in fiscal 2022, we undertook structural reforms and improved our business portfolio in order to achieve the transition to a sustainable growth cycle outlined in "Good to Great", our growth strategy.
Katsujiro Iwai, our founder, retains the word "Pursuing Profits and Contributing to Social Development."
This is the very essence of ESG management, and we will return to our founding spirit and continue to contribute to society as a paint professional. Our Group's net sales in this consolidated fiscal year were 562,277 million yen (up 10.5% yoy).
Operating income was 51,595 million yen (up 60.8% yoy) as a result of efforts to reduce costs and improve selling prices, despite an increase in fixed costs such as personnel expenses.
Ordinary income was 57,685 million yen (up 43.4% yoy), mainly due to an increase in equity in earnings of affiliates and foreign exchange gains, despite the recording of losses related to net monetary holdings due to the hyper-inflation accounting.
Profit attributable to owners of parent was 67,109 million yen (up 166.4% yoy). This was mainly due to gains on sales of investment securities associated with the reduction in strategic shareholdings and gains on sales of fixed assets associated with the sale of land in India and the sale of the head office in Japan.
Based on the above results, the Company had declared an annual dividend of 40 yen per share for the current fiscal year (including an interim dividend of 18 yen per share).
We look forward to the continued support and understanding of all our stakeholders.