Message from the President
During fiscal 2018, the year ended March 31, 2019, uncertainty in the outlook for the Japanese economy was amplified due to raised concerns regarding a global economic slowdown originating from U.S.-China trade friction. Of the Company's main customers, automotive manufacturers and electronics-related manufacturers continued to invest aggressively. In this environment, the Company worked on strengthening the customization capabilities of its environmental test chambers, targeting the automotive and IoT-related markets, and on developing energy device products. The Company also focused on expanding sales in the domestic market as well as in overseas markets such as China, South Korea, Europe and ASEAN.
For fiscal 2018, the fiscal year-end of overseas consolidated subsidiaries changed from December to March, a closing date shared by all subsidiaries. With this change, operating results were for an irregular 15-month period for overseas consolidated subsidiaries. Consolidated financial results were as follows: orders-received of ¥50,698 million, net sales were ¥50,580 million, operating income was ¥5,827 million and profit attributable to owners of parent of ¥4,289 million. As a reference figure for regular year financial results period assuming a 12-month period for overseas consolidated subsidiaries, net sales were ¥47,060 million, operating income was ¥5,470 million and profit attributable to owners of parent was ¥4,030 million.
The Company is engaged in a medium-term management plan, “Progressive Plan 2021,” which covers the four-year period from fiscal 2018 to fiscal 2021. This medium-term management plan targets the automotive-related field, where the electrification of automobiles and the development of automated driving technology are advancing rapidly, and the IoT-related market, where all manner of household appliances and other devices are connected to the Internet. We are aiming to achieve stable and continuous growth through strategic investment and steady improvement of quality.