The LINTEC Group’s overseas sales ratio rose substantially during LSV 2030-Stage 1, from 50% to 61%. We expect this ratio to grow to 65% under LSV 2030-Stage 2. Alongside efforts to cultivate new markets, we need to improve the profitability of existing markets, including Japan. By segment, in Printing and Industrial Materials Products the contribution to earnings from U.S. subsidiary MACTAC AMERICAS, LLC, has been delayed, owing in part to goodwill amortization. The situation is already improving, however, and we anticipate further upside going forward. On the other hand, we believe improvements in our Chinese business, led by LINTEC (SUZHOU) TECH CORPORATION, will take time. In Advanced Materials Operations, within Electronic and Optical Products, we saw significant demand related to generative AI. We anticipate steady growth in products for semiconductor memories and multilayer ceramic capacitors as early as the fiscal year ending March 31, 2025. In Paper and Converted Products, we will step up the launch of new products, driven by environment-related Our employees are highly qualified, and morale is high. They take the Company’s situation to heart and think proactively about what they should be doing at present. People are our greatest management resource, and the top managers of each operation make regular efforts to get to know the people in their organization. Such understanding provides the LINTEC Group with a clear picture of who to assign to which areas in order to address a given problem. This level of management attests to an organizational culture the Group has perfected over the course of many years. Just as the LINTEC Group is the most important and strongest supporter of its customers, as a manager I wish to be the most important and strongest supporter of our employees. Above all, my role is to create an environment in which employees can work comfortably and to build a system that allows them to maximize their experience, needs such as a move away from plastics. In Converted Products Operations, a new coating machine is scheduled to start operation at the Komatsushima Plant in Tokushima Prefecture in August 2025, with a view to expanding overseas sales of casting papers for synthetic leather. While our overall business outlook is favorable, many investors have pointed out that our stock is undervalued, as indicated by our price-to-book value ratio of less than 1.0 time. We believe that we must continue to create aspirational new products and businesses to meet the expectations of more markets and to increase sales and profits. We aim to craft a robust product portfolio to ensure that more than 30% of our sales come from new products. To do so, we are working on our purpose brand, Welsurt, and CNT pellicles for EUV lithography equipment. We will strive to create a solid market position for the Company and enhance our reputation in the capital markets.knowledge, and skills. I am also responsible for ensuring that our employees fully understand the philosophy of LSV 2030, the themes to be addressed, and their meaning and for encouraging them to take the leap forward into a new era. Through people-centric management, we intend to achieve truly sustainable growth and contribute to a sustainable society. for their continued support going forward.I am grateful to our shareholders and investors and ask 15by Weaving Our Dreams into New Products and Businesses Being the Most Important and Strongest Supporter of Our EmployeesMeeting Market Expectations Makoto HattoriRepresentative DirectorPresident, CEO and COO
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