I am pleased to report our results for the first half of the fiscal year ending March 31, 2020.
During the first half of the consolidated fiscal year under review, the market conditions were adjusted in both the domestic and overseas markets. In this situation, for the first half of the consolidated fiscal year under review, TSUGAMI Corporation (the “Company”) and its affiliates (the “Group”) recorded a decrease of 22.7% year on year in revenue, to 27,396 million yen. With this as the main cause, operating profit came to 2,889 million yen (down 48.0% year on year), and profit attributable to owners of the parent declined to 1,295 million yen (down 58.8% year on year). The Group also recorded a 307 million yen loss due to a warranty against defects at a factory site sold in the previous fiscal year and foreign exchange losses (on assets in local currencies) of 296 million yen.
The Company decided to pay an interim dividend of 12 yen per share as initially planned. It also plans to pay a year-end dividend of 12 yen per share (for an annual dividend of 24 yen per share).
We respectfully ask for the continued support and encouragement of our shareholders.
Representative Director, Chairman and CEO