Hideya Moridaira


Steadily capture the rebounding and increasing demand to grow the businesses directed at FY25

I would like to express my sincere gratitude to all of our shareholders for your support and understanding of the Furukawa Electric Group.

During the first half (consolidated cumulative term through the end of the second quarter), the group recorded decreased profit on lower revenue compared to the same period of last year due mainly to the major downturn in the Communications Solutions business.

Concerning the full-year forecast, the worse-than-expected restrained investments by customers and prolonged inventory adjustments in the Communications Solutions business has resulted in a downward revision to the forecasts for net sales, operating income, ordinary income and net income attributable to owners of the parent.

This fiscal year is the second year of the Medium-term Management Plan “Road to Vision 2030 – Transform and Challenge” (hereinafter “2025 Mid-term Plan”). Despite the difficult business environment, there is no change to the targets set in the 2025 Mid-term Plan, which is a milestone for achieving our Furukawa Electric Group Vision 2030 (hereinafter “Vision 2030”). We will further accelerate the initiatives for achieving Vision 2030.

As our vision for 2030, we are aiming to become a group that is essential for solving the social issues. To realize this vision, we need to transform into an agile organization that is able to respond to the changing and diversifying social issues. Therefore, we will strive to make rapid management decisions and build a foundation taking functional, effective actions as an organization. In addition, we will work to quickly resolve the financial issues in order to continuously generate stable profits.

Concerning the dividend for the current fiscal year, although we will forego issuing an interim dividend, the year-end dividend forecast of JPY60 per share announced on May 11, 2023 remains unchanged.

I ask all of our shareholders for your continued understanding and support.

December 2023