We will lead the group in a bright and cheerful way, further strengthen the Furukawa Electric brand, and expand our operations.
Please allow me to express my sincere gratitude to our shareholders for their continued support and patronage.
My name is Keiichi Kobayashi and I was appointed President on April 1 this year.
I will give my all to promoting the development of Furukawa Electric Group, and I greatly appreciate whatever advice and encouragement you can give me.
In FY 2016, our sales fell as a result of the stronger yen and a slump in the price of copper ingots. However, there was strong demand for optical fiber cables in the Communications Solutions Business, particularly in North America, as well as a positive impact from production streamlining at overseas bases in our Automotive Products Business, structural reforms in the Copper Foil Business, and strong sales of tape used in the manufacture of semi-conductors. This resulted in much higher profits than the previous fiscal year. In consideration of this performance and other factors, we have decided to increase the dividend per share to 55 yen for FY 2016.
In FY 2017, we anticipate increased sales in all business segments. We forecast operating income to fall because of our efforts to strengthen advance investments in research and development and the expansion and reinforcement of our facilities, with a focus on the priority fields set out in the Furukawa G Plan 2020, which is the medium-term management plan we have been working on since the last fiscal year. However, we expect to secure higher net income as a result of improvements in equity method investments and other factors.
The world is undergoing major and rapid changes. We will continue to implement reforms without slackening our pace as we lead the group in a bright and cheerful way, further strengthen the Furukawa Electric brand, and expand our operations under the slogan “Passion, Persistence and Pride”. Our goal is to bring peace of mind and create expectations for all stakeholders.
The ongoing support of our shareholders is more important to us than ever.