Investor Relations

Message from the President

The TOYO TANSO GROUP contributes to the world through the pursuit of the possibilities inherent in carbon (C). Naotaka Kondo, Representative Director, Chairman & President, CEO

Overview for the 78th fiscal year

During the consolidated fiscal year ended December 31, 2019, factors such as the prolongation of trade friction between the US and China, the issue of the departure of the United Kingdom from the EU, and the slowing of regional economies in parts of Asia, including China, resulted in a situation of continued uncertainty. In the Japanese economy, despite steady trends in employment and income environment, low growth continued reflecting in part a downturn in personal consumption due to the impact of the consumption tax increase and large-scale natural disasters.

With regard to the business environment in which the Group operates, demand, primarily wafer-related, was solid in the semiconductor market, and the transportation equipment market saw growth in demand for pantograph sliders used in trains both in Japan and overseas, although demand for automotive applications was weak. Elsewhere, in the energy-related market, solar cell-related demand remained sluggish.

In this environment, the Group focused on medium-term demand, working to reinforce infrastructure for high value-added products, improve productivity by means of capital spending, and develop new products and businesses。

As a result, in the consolidated fiscal year ended December 31, 2019, since the 3,204 million yen in sales recorded in the previous fiscal year for graphite materials for Chinese high-temperature reactor-pebble-bed modules (HTR-PM) was removed, net sales were 36,402 million yen (down 11。5% year on year [down 4。0% year on year excluding those of Chinese HTR-PM])。 On the income side, due to an increase in fixed costs such as personnel expenses, operating income fell 26。2% to 5,175 million yen, ordinary income fell 26。2% to 5,207 million yen, and profit attributable to owners of parent stood at 2,944 million yen, down 40。0%。

Future outlook

With respect to our future outlook, given the impact of the spread of novel coronavirus infection, we are currently faced with a number of uncertain elements affecting business performance, including the timing of the coronavirus subsiding, moves of various national governments, and status of the supply chain, making it difficult to make an appropriate and rational calculation of results forecast.

Meanwhile, the Company's four consolidated subsidiaries in China have gradually resumed operations from February 14 with permission from the Chinese authorities。 Taking into consideration the circumstances as mentioned above and progress of business operations in the period ahead, results forecast for the 79th fiscal year will be posted on the Company's website as soon as rational calculation becomes possible。

We thank you, our shareholders, for your continued support。

March, 2020

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