I hope all our shareholders are staying well and would like to express my deepest gratitude for your continual support of the Sumitomo Riko Group.
In the second quarter consolidated cumulative period, net sales increased on the same period last year due to the normalization of economic activity, a recovery in automobile production at our major customers, and the falling yen’s impact on exchange rates.
Business profits also rose year on year. This was due to an increase in sales thanks to the recovery in automobile production as well as the impact of our enhanced productivity, which the sales increase necessitated. Consequently, both our net sales and business profits hit record highs in the first half of the fiscal year.
Although the business environment is expected to remain uncertain due to persistent high global inflation and geopolitical risks, the company announced an upward revision to its full-year consolidated forecast at the end of October based on the upside in the first half of the fiscal year and available information.
We will continue to strive for corporate management based on the Sumitomo Spirit "Banji-nissei*1", "Shinyo-kakujitsu*2", and "Fusu-furi*3". Furthermore, looking ahead to fiscal 2025, we will further enhance our corporate value and contribute to society by accumulating sales and profits and ensuring that we achieve our medium-term plan.
I kindly ask all shareholders to continue their support and understanding of Sumitomo Riko Group's corporate activities into the future.
Kazushi Shimizu
Representative Director and President & CEO
