In 2021, the LINTEC Group formulated LSV 2030, a long-term vision aimed at achieving sustainable growth for the Company and contributing to the realization of a sustainable society. As an initial milestone, we launched LSV 2030-Stage 1, a medium-term business plan for the period of April 2021 to March 2024. Looking back on our performance during that three-year period, in the first year, the fiscal year ended March 31, 2022, we achieved record sales and profits and met our final-year targets ahead of time. Buoyed by these results, we raised our targets for the final year of the first stage, but we faced sudden changes in the operating environment. In Electronic and Optical Products, orders plunged while prices of raw materials and fuel soared, leaving us in a predica-ment. In the fiscal year ended March 31, 2024, the plan’s final year, orders for semiconductor- and electronic component-related products and adhesive products for seals and labels recovered in the second half of the year, and we benefited from price revisions and the effect of yen depreciation. However, this upswing was not enough to make up for the poor performance in the first half. Meanwhile, we are making steady progress in carrying out the three key initiatives of our long-term vision: solve social issues, foster innovation to build a robust corporate structure, and create new products and businesses to deliver sustainable growth. In addition to our efforts to create new products and businesses; accelerate LDX 2030, our project to promote digital transformation (DX); and meet our CO2 emissions reduction targets for 2030 ahead of schedule, we have achieved a number of notable results. I applaud the way our employees have worked in concert on a variety of measures. April 2024 marked the start of LSV 2030-Stage 2. This medium-term business plan spans the period from April 2024 to March 2027, our next milestone. To transform ourselves into a company that remains unshakable in any operating environment and to remain an industry forerunner, we must further refine our sales, development, and manufacturing capabilities.11A Message from the PresidentMoving from Stage 1 to Stage 2 of the Medium-Term Business PlanAs the most important and strongest supporter of our customers and employees, we will strive to conduct management based on our long-term vision.
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