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. We sincerely hope that the COVID-19 pandemic subsides as soon as possible and everyone can safely resume their lives.
In regard to our business performance in fiscal 2021, net sales increased on the previous period due to the staged recommencement of economic activity, despite the continuing COVID-19 pandemic. However, business profit was down on the preceding period due to the large impact of rising raw material prices and logistics expenses.
Risks still exist in this fiscal year. Factors such as the new wave of COVID-19 infections, disruption to global supply chains, and higher raw material prices and logistics expenses cause the future outlook to remain uncertain. However, even in such an environment, we have already started to see results from our efforts to improve profitability through business integration and consolidation and the enhancement of activities to reduce the price of raw materials.
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
