Message from the CEO
I would like to take this opportunity to thank you for your continued support.
During the fiscal year 2022, the global economy was affected by high raw materials and energy prices and supply constraints chiefly due to the prolonged state of affairs in Ukraine and restrictions on economic activities in China. In addition, there were economic slowdowns and violent exchange rate fluctuations due to worldwide monetary tightening. Meanwhile, the COVID-19 pandemic was entering a new phase in which people live with COVID-19, and there were signs of a recovery in the global economy. Moreover, in the display industry, one of the main markets of the Toyo Ink Group, inventory adjustments progressed rapidly, which had a significant adverse impact on the Group’s activities. As a result, operating profit, ordinary profit and profit attributable to owners of parent for the fiscal year 2022 declined, despite an increase in net sales.
Since its founding in 1896, the Toyo Ink Group has been providing products that meet the social needs of each era based on its core raw materials and technologies in pigments, resins and dispersion. Amid a rapidly changing social environment, the Group needs to evolve with the aim to contribute to the new era and achieve further growth. Feeling the need to reflect upon the value that it hopes to deliver to society, the Group re-defined it as “Creating value that resonates with the senses.” Moreover, Toyo Ink SC Holdings Co., Ltd. (the “Company”), the Group’s parent firm, has decided to change its trade name to artience Co., Ltd. in January 2024, in order to demonstrate its strong determination to transform itself into a company that delivers pioneering value to people around the world through its cutting-edge technology, with every employee playing a lead role in building the Company by anticipating the needs and challenges of the changing times. The Toyo Ink Group strives to provide value that resonates with the senses and appeals to consumers around the world and, through the strengths and voluntary efforts of all employees, to contribute to the realization of a society in which all people can live enriched lives.
We hope that we can rely on your continued support and guidance.
President, Representative Director and Group CEO