【最終】AR2018

53/90

Revenues and ExpensesIn the fiscal year under review, consolidated net sales increased 20.9% year on year, to ¥249.0 billion, due to the three companies in Europe and the United States that were acquired at the end of 2016 and a favorable performance by businesses related to semiconduc-tors and electronic components.Although net sales increased 20.9%, gross profit rose 18.8% year on year, to ¥62.8 billion, due to an increase in fuel and raw material prices. Operating income was up 21.1% year on year, to ¥20.1 billion, as growth in sales volume and cost reduction effects outweighed the amortization of goodwill of subsidiaries that the Company acquired. Profit before income taxes rose 8.2% year on year, to ¥16.7 billion, reflecting the recording in extraordinary loss of provision for business structure improvement and goodwill impairment loss, both of which were related to U.S. subsidiaries. Income taxes following the applica-tion of tax effect accounting increased 31.6% year on year, to ¥5.5 billion, due to the absence of the previous fiscal year’s positive tax effect. Profit attributable to owners of parent declined 1.7%, to ¥11.3 billion.Net income per share decreased from ¥158.69 in the previous fiscal year to ¥156.02, and ROE declined from 6.6% to 6.2%.Operating Income Factor Analysis20172018ConsolidatedNon-ConsolidatedHigher sales volume and sales mix improvement+4.3 Cost reductioneffects, etc.+1.2Fall in unit sales prices–0.6Higher fuel and raw material prices–1.5Rise in fixed costs–1.7Increase in sales volume, etc.+1.816.620.1¥ BillionNet Sales by Segment206.0249.020172018Printing andIndustrial MaterialsProductsElectronic andOptical ProductsPaper andConverted Products85.7121.788.938.583.237.1Electronic and Optical Products Up 6.8%• In Advanced materials operations, sales of semiconductor-related adhesive tapes and equipment increased significantly due to brisk demand for products for smartphones and cloud-computing servers. Sales of multilayer ceramic capacitor-related tapes also rose thanks to strong demand for products for smartphones and automobiles.• In Optical products operations, revenues from LCD-related adhesive products decreased because, although sales volumes were steady, the effect of a fall in unit sales prices and a change in the sales mix was significant.Paper and Converted Products Up 3.6%• In Fine & specialty paper products operations, sales of color papers for envelopes were sluggish, but sales of industrial specialty papers and oil and water resistant papers were firm.• In Converted products operations, sales of release papers for electronic materials and release films for optical-related products were favorable, and sales of casting papers for synthetic leather were solid.Printing and Industrial Materials Products Up 42.1%• In Printing & variable information products operations, adhesive films for labels sold well in Japan due to higher demand for campaign labels for beverages and eye-catching labels for cosmetics. Overseas, sales were stable in Southeast Asia.• In Industrial & material operations, sales of equipment for the mail-order industry were firm in Japan, while sales of motorcycle- and automobile-use adhesive products and window films were solid in Asia.• Net sales increased due to contributions from the three companies in Europe and the United States acquired at the end of 2016.¥ Billion(Fiscal years ended March 31)(Fiscal years ended March 31)Management’s Discussion and Analysis51LINTEC ANNUAL REPORT 2018FINANCIAL INFORMATIONESGSTRATEGYOVERVIEWFINANCIAL SECTION