During the six months ended June 30, 2024, the global economy trended toward recovery. In the United States, the economy expanded as consumer spending remained firm. In Europe, signs of a pickup were seen as personal consumption bottomed out while the economy weakened. In China, a weak economy continued as both domestic and foreign demand remained sluggish. Meanwhile, the Japanese economy recovered moderately due in part to strong production activities in the electronic components markets, although production activities declined in part of mobility markets.
Under these conditions, during the six months ended June 30, 2024, product demand in the fields of decorations and sustainable materials remained firm and productivity and efficiency improved in the Industrial Materials segment. In the Devices segment, there was a recovery in product demand for tablets and handheld terminals (logistics related), which had been sluggish in the previous fiscal year. In the Medical Technologies segment, the acquisition of companies has begun to contribute to earnings, while strong product demand remains steady. In addition to these demand trends, the effects of the exchange rate and other factors helped increase both net sales and operating profit year on year.
As a result, regarding the financial results for the six months ended June 30, 2024, net sales were ¥99,661 million (an increase of 20.1% as compared to the same period of the previous year), operating profit was ¥4,405 million (an increase of 7,461.2% as compared to the same period of the previous year) and profit attributable to owners of parent was ¥4,363 million (an increase of 444.8% as compared to the same period of the previous year).