To Our Shareholders and Investors
During the fiscal year, net sales decreased by 9% YoY, to 2,431.9 billion yen and operating income decreased by 22% YoY, to 49.7 billion yen, because prices of the products represented by steel, non-ferrous metal and crude oil were at lower levels on a year-on-year comparison and demand for steel and scrap decreased. Ordinary income decreased by 25% YoY, to 48.2 billion yen, mainly because dividend income from strategic investments decreased. Net income attributable to owners of the parent decreased by 25% to 38.4 billion yen.
With regard to year-end dividends, we resolved to distribute a dividend of 100 yen per share at the Ordinary General Meeting of Shareholders held on June 26, 2024. As a result, the annual dividend per share for the fiscal year ending March 2024, including the interim payment of 85 yen per share already implemented, is 185 yen.
We are promoting the Medium-Term Business Plan for the period from FY 2023 to FY 2025. In the plan, we strengthen corporate foundation and improve medium-to long-term profitability in well-balanced manner, and advance initiatives aimed at achieving sustainable growth with a view toward FY2030. These targets are based on a three-tier approach that comprises "Sustainability management" as basement floor, "Enhancement of the Management Foundation" as 1st floor, "Development of Business Strategy" as the 2nd floor and "Generate profits from investment" as 3rd floor.
Going forward, we will continue to deepen implementation of our corporate strategies under the Medium-Term Business Plan, achieve sustainable growth and improve the overall corporate value of our Group, to meet the expectations of our shareholders and investors. We ask once again for your continued understanding and support.
June 2024
Yoichi Nakagawa
President