We, the Inabata Group, launched our three-year medium-term management plan, New Challenge 2026 (NC2026), in April 2024, as the third stage in our journey toward realizing IK Vision 2030—our long-term vision for what we aim to become by around 2030. The fiscal year ended March 31, 2025 marked the first year of NC2026.

On the quantitative front, we achieved our targets for net sales, operating profit, ordinary profit, and profit attributable to owners of parent in the first year of NC2026.
On the qualitative side, our mainstay Information & Electronics business and the Plastics business both performed well. The Information & Electronics business was driven primarily by flat panel display (FPD)-related products, while the Plastics business benefitted from steady performance in office automation-related products. However, progress in the sales of plastics for the automotive market and in the renewable energy-related business—both priority areas under NC2026—was somewhat delayed due to a deteriorating business environment.

Under NC2026’s main theme, “Accelerating growth through proactive investment,” we made solid progress on several initiatives. To strengthen the functions of our compound business and expand earnings in the Plastics business, we established Novacel Co., Ltd., a joint venture with Daicel Corporation. Additionally, as part of our efforts to enhance food processing and sales capabilities, we made Satoen, a company engaged in the cultivation, production, and sales of tea, a subsidiary.

For the fiscal year ending March 31, 2026—the second year of NC2026—we forecast net sales of ¥870.0 billion, operating profit of ¥25.5 billion, ordinary profit of ¥25.5 billion, and profit attributable to owners of parent of ¥19.5 billion, in light of recent economic conditions and business trends.

The outlook for the global economy remains highly uncertain amid concerns over a slowdown triggered by U.S. tariff measures and persisting inflationary pressures, volatility in financial and capital markets, and ongoing geopolitical instability in regions such as Russia and Ukraine, and the Middle East.
In this uncertain environment, we believe it is all the more important to leverage the strengths of our trading company-based business model. The Inabata Group will continue to respond swiftly and appropriately to changes in the economic and social landscape, as we work collectively to achieve the goals of NC2026.

We sincerely appreciate your continued support.