Message from the President

Message from the President

I would like to express my sincere appreciation for your continued support. 

Regarding our financial results of fiscal 2023, the year ended March 31, 2023, consolidated net sales reached a record high due to a recovery in automobile production, mainly in North America and Asia, as well as a significant increase in new orders, increasing LED adoptions, and the effect of foreign exchange conversions.

On the earnings front, operating income, recurring profit, and net income attributable to owners of the parent decreased year on year due to global inflation, increased labor costs resulting from deteriorating employment conditions in North America and Europe, and increased fixed cost resulting from rapid production fluctuations in Japan and China.

The KOITO's business forecast for fiscal 2024, the net sales are expected to reach a record high for the second consecutive year, due to a recovery in automobile production and new orders in North America, Asia and other regions, resulting in an increase in sales from the previous fiscal year.

On the earnings front, each income is expected to increase year on year due to the effect of increased sales in Japan, North America, Asia and other regions, as well as improved profitability resulting from further group-wide rationalization activities.

The KOITO Group has formulated "KOITO VISION: Lighting the Way for Our Sustainable Future", and is developing business activities based on the three pillars of "enforcement of corporate foundation"," sustainable growth", "coexistence with the Earth and society".

In "Enforcement of Corporate Foundation", we aim to strengthen and innovate "manufacturing and human-development" by reinforcing our development, production, and sales systems and by developing human resources, while promoting activities aimed at enhancing corporate credibility such as our BCP framework and improved corporate governance.

In "Sustainable Growth", we will strive to expand the use of ADB (Adaptive Driving Beam), which contribute to reduction of traffic accidents, and will also promptly introduce attractive products such as LiDAR, all-weather cameras, and communication lamps for autonomous driving, to the market to gain customer's satisfaction and trust.

In "Coexistence with the Earth and Society", we aim to achieve carbon neutrality by fiscal 2051 and promote "Eco-friendly Manufacturing for People and the Earth" in order to realize a decarbonized society, and we strive to become a company where each and every employee can work with vitality through reforms in work styles and the promotion of diversity.

We will continue our efforts without forgetting our basic stance to adopt the perspective of customers to supply products and services that meet their expectations.
We would greatly appreciate your continued understanding and support.