¥284,603 million¥13,796 million(down 36.1%)¥11,512 million(down 30.8%)Net SalesOperating IncomeProfit Attributable to Owners of ParentConsolidated Business Results in Fiscal Year Ended March 31, 2023 (Year on Year)(up 10.8%)15In the fiscal year ended March 31, 2023, concerns of an economic downturn mounted. Against the backdrop of Russia’s invasion of Ukraine, the world economy was affected by a surge in fuel prices. Additionally, various countries instituted interest-rate policies in an effort to curb inflation. Japan experienced an extremely moderate economic recovery characterized by lackluster personal consumption, owing in part to ongoing price rises in the face of a weaker yen. 129th fiscal period) was also the second year of our three-year medium-term business plan, LSV 2030-Stage 1. This plan is designed to guide the Company toward the realization of its long-term vision, LSV 2030, which concludes in the fiscal year ending March 31, 2030. Performance was strong during our first year under the medium-term business plan. We met the plan’s final-year management targets early, prompting us to revise our targets upward in May 2022, and we have pursued a variety of measures since. During the fiscal year under review, net sales expanded, buoyed by our acquisition of a business in North America and the impact of yen depreciation. On the profit front, we undertook thorough The fiscal year ended March 31, 2023 (the Company’s efforts to reduce costs and revise prices, while seeking the understanding of our customers, but we experienced sharply higher prices for raw materials, especially pulp, and sales volume fell substantially due to a downturn in the market for electronic- and optical-related products. Furthermore, a downturn in orders for other products led to a lower rate of utilization at production facilities, causing operating losses to grow. As a result, consoli-dated performance was down substantially year on year.A Year of Challenges, Due to a Rapidly Changing Business EnvironmentBuilding a Robust Corporate Structure That Supports Growth Even in a Challenging Business EnvironmentAccelerating Efforts to Realize Our Long-Term Vision, LSV 2030
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