Message from the President & CEO
I would like to express my sincere gratitude to all of our shareholders for their continued support.
Record high profit achieved despite a tough environment
In FY2018, we posted a record high first-half operating income due to strong sales. In the second half, however, we were affected by events such as the fluctuation of naphtha prices and the slowdown of the Chinese economy. As a result, operating income for the full year was ¥93.4 billion (down ¥10.1 billion from the previous fiscal year). On the other hand, we achieved a record high profit attributable to owners of parent, reaching ¥76.1 billion.
In FY2019, the Company will aim to achieve a record high operating income again.
Taking this performance into consideration, the Company set the year-end dividend at ¥50 per share. The annual amount of dividend will be ¥100, up for the fifth consecutive year. In the second half, the Company also acquired treasury stock with the total amount of purchase at approx. ¥10.0 billion. The Company will continue to aim for an increase in shareholder returns.
Looking ahead, global issues of climate change and marine plastic waste are becoming ever more pressing. Moreover, automotive innovations, evolution of IoT and AI, and other technological advances are transforming the world of industry. The Mitsui Chemicals Group will aim to seize business opportunities as well as deal with risks presented by these environmental changes, and through our business activities, help solve social issues.
I would like to, once again, thank our shareholders for continued support and invite you to stay with us going forward.
President & CEO
Joined Mitsui Toatsu Chemicals in 1976. After having participated in construction of a chemical complex in Algeria, Tannowa went on to marketing and sales of basic chemicals. He was then asked to overhaul the company’s human resources where he set his sights on modifying the company’s codes and regulations. These efforts became a key part of the company’s “New” Mitsui Chemicals transformation.
Appointed as managing executive officer in 2010, Tannowa was responsible for overseeing all major business operations from 2012. In 2013, as senior managing executive officer, he became one of the moving forces in restructuring the company’s business operations and the compilation of the company’s 2014 Mid-Term Business Plan. Tannowa was appointed President and CEO of Mitsui Chemicals, Inc. as of April 1st 2014,