Masaaki YoshitakeManaging Executive OfficerDeputy Executive General Manager, Business Administration Div. and Executive General Manager, Printing & Variable Information Products OperationsA Message from the Executive General ManagerIn the fiscal year ended March 31, 2024, demand was strong in Japan for adhe-sive products for seals and labels in the logistics and mail-order businesses, but rising prices dampened overall demand, especially for food products. This as well as moves to eliminate or reduce the use of plastic caused demand to decline in the food and beverage and daily necessi-ties sectors, while overall demand in the adhesive label market, including for industrial and automotive applications, Hideki MiyakeExecutive OfficerExecutive General Manager, Industrial & Material Operations, Business Administration Div.A Message from the Executive General ManagerIn the fiscal year ended March 31, 2024, sales of adhesive products for automo-biles and window film for automobiles were strong in Japan due to a recovery in automobile production. In addition, industrial system-related products such as labeling machines performed well owing to the need for automation in the online market. Overseas, performance rebounded as sales of window film for buildings and automobiles and adhesive products for automobiles were strong in Sales growth and improved earnings in North America and Asia Efforts toward coexistence with the environment and realizing a circular society, etc.remained weak. Overseas, the Company was affected by economic slowdowns in China and Taiwan, as well as a decline in sales volume at MACTAC AMERICAS, LLC, as a result of prolonged inventory adjustments. In short, the business environment was extremely challenging during the year, both in Japan and overseas. 2025, key themes in the domestic market will be the creation of new markets and efforts to increase profitability through improved quality, cost, and delivery (QCD). We will accelerate development and expand sales of environmentally friendly products for which demand is growing, such as plastic-free products, products that help with the 3Rs (reduce, reuse, and recycle), and the use of In the fiscal year ending March 31, Further functional enhancements and growth in sales of window film New product development and systems sales growth to contribute to solving the labor shortage and improving productivity, etc.the U.S. and India, and MADICO, INC. in the U.S. benefited from increased demand for safety film for windows at schools and government offices. Segment sales increased year on year due to an improved business environ-ment in Japan and overseas and the effect of price revisions. Adopting the divisional policy of becoming a division trusted by custom-ers by providing high-quality products and services, in the fiscal year ending March 31, 2025, we will strive to secure sales volume and increase market share by providing new value that meets market needs. In addition to proposing and expanding sales of products for the online and automotive markets, which are expected to grow, we will promote product development focusing on the hot-melt adhesives with less environ-mental impact. In addition, we will strive to continuously improve profitability by integrating product lines and reducing long-term inventories. Overseas, inven-tory adjustment in the North American market is progressing and demand is recovering. MACTAC has been aggres-sively pursuing M&A with a focus on increasing its production capacity, improving market responsiveness, and expanding its new sales network. We will take this local market resurgence as an opportunity to further focus on strength-ening our business in North America, where stable growth is anticipated. In Asia, we will work to enhance competi-tiveness by expanding our product lineup to meet local needs and improving QCD.themes of solventless products, bio-mass, and recycling for environmentally friendly products, for which needs are increasing. To further expand our busi-ness, we will strengthen cooperation with overseas Group companies to pro-vide products demanded by the market based on an accurate understanding of local needs, and we will work to localize production.Main Initiatives in Medium-term Business Plan LSV 2030-Stage 2Main Initiatives in Medium-term Business Plan LSV 2030-Stage 231Industrial & Material Operations Printing and Industrial Materials ProductsPrinting & Variable Information Products Operations
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