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Financial Results for the Fiscal Year Ending March 31, 2023
To all KIMOTO supporters,
Motoko Yamada,Director, General Manager, Administration Division


This is a report from the general managers and division heads of the Technology Division, Sales Division, Digital Twin Division, and Administration Division on the consolidated business results for the second quarter of the fiscal year ending March 31, 2022.

This time, Yamada of the Administration Division will give the report.

Profile of Motoko Yamada

The consolidated results for the fiscal year ending March 31, 2023 (April 2022 - March 31, 2023) are as follows.



We are deeply sorry for this very disappointing result and the concerns it has generated among many of you. The main reasons for the negative results were the prolonged production cutback and inventory adjustment in the mobile industry, including smartphones, due to soaring prices and economic stagnation worldwide, and the impact of automobile production cutbacks owing to semiconductor supply shortages, and this caused a variety of our products (light-shielding films and hard coat films) associated with these industries to struggle. Despite these circumstances, the number of new projects for sales of products using different base materials, mainly for automotive and medical applications, and sales of functional paints has been increasing.
We have been making efforts to provide our core imaging technology to the construction and manufacturing industries. In the construction industry, BIM (Building Information Modeling) construction, which is a government policy, has been adopted since April 2022, and the demand for 3D data has been increasing.

Additionally, KIMOTO Co., Ltd. (Japan) recorded a loss on valuation of stocks of subsidiaries and affiliates of 574 million yen (extraordinary loss) on the stocks of KIMOTO TECH, INC. (US) in the non-consolidated accounts for the fiscal year ended March 31, 2023 (*This has no impact on consolidated results.). Although business recovery was delayed due to the economic slowdown caused by the COVID-19 pandemic and the global impact of the US-China trade friction, business performance is gradually recovering.
We believe that the US production base is essential for the KIMOTO Group to make a worldwide contribution by "gaining ideas in the world's largest market and developing and manufacturing products that can make a difference in the world." We will work to stabilize our business results by pursuing sales in new markets such as automotive and medical, as well as in new projects for 3D data and digital transformation-related services.

Looking ahead, we expect to see a recovery in demand related to electronic devices and an increase in demand for 3D data in the third quarter of the fiscal year ending March 31, 2024, and although it will not be a major recovery, we expect to land in the black.
Moreover, efforts to boost efficiency in manufacturing and development are beginning to emerge. The factory has been proceeding with a DX (digital transformation) for the past year and has established a streamlined workflow. At the same time, both the manufacturing and development departments have been promoting multi-functionalization for several years now, aiming to further improve efficiency by not being restricted to a single job or task. We are committed to the development of technologies for quality improvement and high added value in both material and non-material manufacturing, and we will strive to promote a workflow that is environmentally friendly to the earth.

The entire KIMOTO Group will unite in our efforts to restore our business performance and make every effort to be of service to the world.
We appreciate your kind support in our endeavors.

April 24, 2023
KIMOTO Co.,Ltd.
Director, General Manager, Administration Division
Motoko Yamada

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Financial Results for the Fiscal Year Ended March 31, 2023(Japanese) Notice Regarding Posting of Loss on Valuation of Shares in Affiliates (Extraordinary Loss) in Non-Consolidated Financial Results and Differences from Actual Results for the Previous Fiscal(Japanese)

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Kimoto Co. Ltd. published this content on 24 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2023 01:05:07 UTC.