- IR Information
To Shareholders and Investors,
The directors of the Company sincerely appreciate the continuing support and encouragement of the shareholders.
In the fiscal year under review (April 1, 2015 to March 31, 2016), consolidated net sales dropped 13.4% from the same period in the previous year (year-on-year: YoY) to 399.8 billion yen, while ordinary income improved 9.6% YoY to 20.9 billion yen and net income gained 6.6% to reach 11.3 billion. Net sales were affected by a retreat in petroleum products due to a fall in crude oil prices, as well as by liquidation of a subsidiary in the Information Systems Department. On the other hand, ordinary income increased YoY due to an increase in gondola sales, the sale and liquidation of a loss-making subsidiary, and a one-time gain of 3.3 billion yen from the reversal of a bad-debt provision.
Our main business challenge at this time is to invest proactively in both domestic and overseas businesses.
The majority of Group operations are currently concentrated in Japan. In the future, the Mitani Group will aim for global expansion by investing in regions where population increase and demand growth are expected. Even in Japan, we strive to invest in businesses closely aligned with the trends of the times.
Our first foray into global expansion occurred in November 2013, when we acquired a trading company dealing in construction materials in Singapore. By continuing to invest in and develop new business bases in countries and areas where rising demand is forecast, we expect to bolster sales outside Japan.
In new business, the Group launched operations in the Recyclable Energy Business, including wind power, in 2010. In existing businesses, we will continue to strive to become the top company in each business segment and region by focusing not only on how much products we sell but also the margin on each transaction. We will slash costs, raise productivity and differentiate from our competitors.
We ask the shareholders once more for their support and encouragement.
CEO/President, Akira Mitani