Message from the President

Prospects for the market environment for Fiscal Year 2013

We see the current term as the greatest opportunity since we have gone public.

For the current term, we are expecting consolidated net sales of 24 billion yen (up 12.6% from the previous term), operating income of 3.36 billion yen (up 14.6%), ordinary income of 3.5 billion yen (up 7.2 %), and net income of 2.2 billion yen (up 4.5%).

We are aware that there are some quite bullish views on our business prospects, given that the global economic outlook is expected to remain grim. Therefore, we have set ourselves rather modest goals. Nonetheless, we are quite optimistic about our own performance in this term, as we retain very favorable positions in the markets we compete in. In fact, there is a tangible sense of making a great leap, comparable to the one we made back when we were first listed with the successful launch of our alumina substrates for chip resisters.

We are forecasting continued, steady growth in demand for our environment-related products, which we view as our key growth business. Another source of our optimism is the expected exponential growth of overseas demand for our products for information terminal device such as smartphone use.

To adapt to such hefty demands and expedite our growth, we increased our capital during the previous term to invest in a new plant, which will enter operation in the current term. The increased production capacity will enhance the company’s sales and production activities which are attuned to the changing market environment; while intense human resource development efforts in our R&D and engineering departments will set us apart from other manufacturers through the creation of high value-added products. We will also remain active in the capital investment front in the current financial year. Aggressive investments are to be made to hone our competitive edge in such fields as the energy-saving and environmental business, the information terminal related business, and the medical and optical communication business, both within Japan and internationally.

Capital Investment

Message to Shareholders

Please look forward to MARUWA for fiscal year 2013.

The dividend paid out to our shareholders for the previous term was 30 yen per share (15 yen for interim and year-end respectively). For the current term, too, we forecast a dividend payment of 30 yen per share (15 yen for interim and year-end respectively), in light of expected capital requirements and other factors.
The ongoing advancement of digitalization and global call for a low-carbon society are two strong tail winds that help MARUWA Group retain an extremely advantageous position in the innovation-intensive materials industry. We now must seize this great opportunity, the greatest opportunity since MARUWA has gone public. We are determined to evolve into a robust company that stays highly profitable irrespective of the changing economic environment by delivering products that no other manufacturers can produce in the three business areas of growth.
We invite you to be a witness of MARUWA’s next giant leap.

Sei Kanbe President (signature)