27In the fiscal year ended March 31, 2023, we truly felt the challenges of an era of volatility, uncertainty, complexity, and ambiguity (VUCA*). The year was marked by such events as the Russian invasion of Ukraine, sharp depreciation of the yen, and escalating US–China trade friction. The Group’s operat-ing environment also grew more challenging. However, thanks to the diligent efforts of our sales department, we have been able to address the soaring prices of raw materials by steadily raising our product prices, after gaining the understanding and support of our customers about the need for industry-wide price increases. Since autumn, the electronics market has experienced a steep decline, but every few years the industry sees cyclical inventory adjustments, which are followed by rapid recoveries. Accordingly, we have been progressing with our planned capital investments with-out any major disruptions, ensuring that we can respond effectively when demand surges. We have also seen substantial results from our proposals of various plastic alternative products and promo-tion of solvent-less release paper, in response to the increasing environmental awareness. We view the current fiscal year as a time to prepare ourselves for the next medium-term business plan and the era beyond. Our long-term vision targets ROE of 10% or higher, and achieving this will require us to improve profitability. We will consider measures such as scrapping old and building new production facilities to enhance product competitiveness, as well as optimizing our business portfolio. In my view, the Company’s true purpose is to continue providing products and services that support society as people’s behaviors change. This division’s New Project Planning Office and Next Generation Innovation Group are tasked with the creation of new businesses. We continue to make progress, such as with the commercialization of pellicles for EUV lithography systems. In addition, discussions have begun between these two departments about the ideas proposed by the SDGs Committee, which I am in charge of promoting. Going forward, we will work together with the Production Div. and the Research & Development Div. to leverage our strengths in customizing solutions according to customers’ needs, thereby realizing the purpose I mentioned earlier.* VUCA: Representing the characteristics of an unpredictable business environmentA Message from the Executive General Manager, Business Administration Div.Through initiatives to improve profitability and develop new businesses, we will continue to provide products that support society.Business StrategyTakeshi KaiyaDirector, Senior Managing Executive OfficerExecutive General Manager, Business Administration Div.
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