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With 46 consolidated subsidiaries and 11 equity-method affiliates around the world, Inabata is expanding its business globally. LCD-related fields grew in the IT & Electronics business that accounts for approximately 40% of sales. The depreciation of the yen and solid performance in Asia in the automotive and office appliance sectors boosted the Plastics business, which also accounts for 40% of sales. As a result, Inabata posted the highest net sales, operating income and current profit on record in FY 2012, which ended March 2013.
Implementing the IK2013 mid-term business plan
Of the performance targets for the year ending with March 2014 set under the current IK2013 mid-term business plan, current profit of 10 billion yen, net income of 6 billion yen and ROE of 7.4% were achieved one year ahead of schedule. This indicates a steady progress in accomplishing the mid-term business plan.
The company will allocate additional management resources to the growing Asian market, and work to expand business in emerging countries such as Mexico and Brazil in Latin America, and India, with the aim of achieving the targets of 550 billion yen in net sales and 10 billion yen in operating income.
In the performance-driving Plastics sector, Inabata will further enhance the compound business. Collaboration among the 6 plants in Asia will be strengthened to establish an optimal production system in terms of location and scale. A compound plant was established along with a trading company in Mexico to meet growing production of Japanese auto manufacturers. The Mexican plant aims to begin production at the end of 2013.
Aiming for stable returns to shareholders
Stable shareholder returns is one of our highest priorities, and dividends are determined within the 20% to 30% range of the consolidated net income. The payout ratio was 20.9% in FY2012, and is expected to reach 24.3% in FY2013. Timely purchase of treasury stock will also be implemented in order to assure shareholder returns.
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