I am pleased to have this opportunity to extend a cordial greeting to our shareholders, and to wish you all continued health and prosperity. I would also like to preface this report on the Company’s financial results for the 87th fiscal year (April 1, 2015 to March 31, 2016) by expressing our heartfelt gratitude for your steady support.
During the consolidated fiscal year under review, the basic economic condition of Japan recovered gradually in both corporate earnings and employment conditions. However, commodity prices declined due to the slowdown of developing countries’ economies such as China, and the downturn of the world economy caused by unstable international situations. Also, the yen has been strong and stock prices have fluctuated violently since the beginning of the New Year. So the prospects of economy are uncertain.
Operating in this environment, all of our Group companies, including our consolidated domestic and overseas subsidiaries, pursued concerted efforts to strengthen collaboration within the Group. In spite of the downturn of general purpose resin, our group covered it by increasing its sales quantity and expanding sales of other items. Revenues of the 87th fiscal year increased compared with the same period of the previous year. And operating income, ordinary income and net income also increased compared with the same period of the previous year.
In light of the ongoing progress of globalization, we have developed our overseas business bases not only in China but also other Asian countries. In these bases we will seek to reinforce organizations and expand business infrastructure. Our group aims to enhance these overseas bases positively, make organic use of overseas bases and expand business overseas. Cooperating with the entire group both overseas and domestically, including each branch in Japan and consolidated subsidiaries, Fujimatsu Co.,Ltd and FILTEREN Co.,Ltd, we will respond to our customers’ global strategy quickly and flexibly. And then we will further increase our corporate value as a plastic specialized trading company.
I would like to ask for the continued support and guidance of our shareholders as we move forward.
PLA MATELS CORPORATION
President and CEO