Ferrotec Global




38th Term Second Quarter Financial Statement

Message from the Board

Akira Yamamura
President and Representative Director

Taking this opportunity, I wish to thank our shareholders very much for their usual support and continued interest in our corporation.
I am pleased to deliver our financial statements for the 38th term ended March 31, 2018.
Renaming our corporate name to “FerroTech Holdings Corporation” effective April 1 2017, our group has adopted a holding company system.
Thanks to active investments in equipment for the manufacture of semiconductors contained in smartphones, data servers and other equipment and devices and to a high equipment utilization ratio of the electronics industry, to which our group belongs, the material product group in the market has remained strong for our group companies. Our group has decided to enter the 8-inch semiconductor wafer business as this business is poised to become one of the growth areas for our group.
Turning to the automobile industry, automobile sales in North America have become slightly sluggish and sales of thermoregulation seats in high-end cars that use thermal modules, which are our core products, have been sluggish. However, our sales to the communication equipment industry, bio industry and other industrial segments have increased and have met our plan target. More of our products are now used in electric home appliances such as water servers and beauty-care equipment. The products we manufacture and sell are proving to be useful in our society. The demand for solar panels for photovoltaic power generation is active aiming at becoming a low-carbon society and the demand for silicon products has been strong. Our group has implemented measures to improve its earnings such as discontinuing business for some of its products that have become no longer profitable. We will continue to restructure our business related to solar panels in the future and solicit your understanding of our effort.
In summary, the products of our group are used in various products of the growing industries such as semiconductor, automobile, communication and bio industries, thereby making a contribution to society.
Based on its basic policy for the management of our group, we are committed to continuously being a “corporation with which the joy of growth can be felt." Your valued and continued support of our group companies is sincerely solicited.
June 2018

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