Hideya Moridaira
President 
Steadily capturing the opportunities to increase profits, and connecting them to FY2025
I would like to express my sincere gratitude to all of our shareholders and investors for your support and understanding of the Furukawa Electric Group.
In FY2023, net sales at the group as a whole decreased due to the impact of weak demand in the Communications Solutions business resulting from restrained customer investments. In terms of profit and loss, although efforts were made to optimize sales prices, profit fell due to the lower net sales and higher raw material and fuel prices. However, as the annual dividend, we decided to issue a dividend of JPY60 per share.
In the forecast for FY2024, we expect to achieve higher profits through increased sales of high-value-added products and higher productivity in addition to increased net sales from gradual improvement in the semiconductor and optical cable markets, increased power cable projects in Japan, stable automobile production plans and increased demand in the growing generative AI market.
Based on the Medium-term Management Plan “Road to Vision 2030 – Transform & Challenge–” announced in May 2022 (hereinafter “Mid-term Plan”), along with accelerating the initiatives to “Maximizing revenues in existing businesses through a focus on capital efficiency”, we will continue to promote “Building a foundation for creating new businesses by strengthening development and proposal capabilities” in order to solve the future social issues. At the same time, we will work to “Strengthening the foundation for ESG management” that supports these initiatives.
In order to achieve the Mid-term Plan targets, while focusing on the Communications Solutions business in particular, we will continue to optimize investment allocation from the standpoint of profitability and growth potential directed at increasing profits in each business, and further accelerate business management and decision making with an awareness of the cost of capital.
As a company, we will celebrate our 140th anniversary this year. In commemoration of this milestone, we newly set forth a Purpose (reason for existing) that will be a pillar of management decisions, be understood / empathized by employees and enable everyone to take pride in being a member of the Furukawa Electric Group.
I ask all of our shareholders and investors for your continued understanding and support.
June 2024