Uncertainty in the Display Market and Short Product Cycles

「As a result of taking into consideration new orders received for optical film-related projects and other factors, performance is expected to exceed the initial forecast.」

「Revenue increased, mainly because orders for film processing for displays remained strong, including at subsidiaries, in the Optical Film SBU.」

「The optical-film SBU recorded higher revenue because orders for film processing for displays, including orders involving subsidiaries, remained strong throughout the year, despite not having been anticipated initially.」

「Sales of semiconductor-packaging tape remained solid. The optical-film SBU also recorded higher revenue because orders for film processing for displays, including orders involving subsidiaries, remained strong during the first nine months of the current consolidated fiscal year, despite not having been anticipated initially.」

「Although the semiconductor-packaging tape SBU recorded lower revenue than in the same period of the previous year, when performance was particularly strong, it substantially exceeded its plan. The optical-film SBU recorded higher revenue due to temporary orders secured during the first six months of the current consolidated fiscal year that had not been anticipated initially.」

「During the first quarter of the current consolidated fiscal year, the adjustment in semiconductor market conditions that had continued since the second half of the previous consolidated fiscal year was prolonged, while the slowdown in the Chinese economy and other factors also affected the business,」

「During the current consolidated fiscal year, the semiconductor market, which had been strong through the middle of the period, entered an adjustment phase. Although this is expected to continue for some time, the market is expected to shift toward recovery around the second half of the next consolidated fiscal year.」

「In the electronic materials business, sales declined as the semiconductor and electronic materials markets rapidly entered an adjustment phase and demand fell, while the one-off surge project related to the optical film business in the previous year ended.」

「Sales in the optical film-related business declined following the completion of one-off special-demand projects.」

「The semiconductor-related business remained strong, and the recovery trend in sales volumes that began in the second half of the previous consolidated fiscal year continued.」

「As market conditions recovered in the semiconductor and electronic materials-related businesses, the recovery trend in sales volumes that began in the second half of the previous consolidated fiscal year continued. In the optical-film-related business, the company also secured new optical-film projects for smartphones that were not included in the initial plan, and received sample revenue from new products.」

「In the electronic materials business, sales volumes in the semiconductor-related business continued to recover from the second half of the previous consolidated fiscal year as the market recovered.」

「Demand in industries using the related materials began to recover from the second quarter onward, and demand for highly profitable products also recovered in the third quarter, but the impact of sluggish demand associated with the spread of COVID-19 remained, resulting in lower revenue year on year.」

「Although sales increased from July onward as demand recovered in industries using the related materials, revenue declined year on year overall because of the effects of the spread of COVID-19.」

「In the electronic materials business, although signs of recovery have emerged in semiconductor market conditions, industries using the related materials have been affected by the spread of infectious diseases, and orders have not yet recovered.」

「In the electronic materials business, although signs of recovery have emerged in semiconductor market conditions, orders for related materials have not yet recovered.」

「In the electronic materials business, orders have not yet recovered due to the delayed recovery in semiconductor market conditions, which has continued for an extended period, and the slowdown in the Chinese economy,」

「In the electronic materials business, sales were also affected by the prolonged supply-demand adjustment in the semiconductor market, falling by ¥587 million year on year to ¥7,658 million, down 7.1% year on year.」

「The supply-demand adjustments in semiconductor market conditions and the toner market that continued from the fourth quarter of the previous fiscal year took longer to recover due in part to the intensification of US-China trade friction, adversely affecting display-related products, which remained sluggish through the third quarter.」

「The company had expected the supply-demand adjustment in the semiconductor and toner markets, which had continued since the previous fourth quarter, to recover in the second half of the fiscal year. However, the recovery was delayed by the impact of the intensifying US-China trade conflict and other factors, adversely affecting display-related products as well.」

「Products related to electronic components for the semiconductor market and display-related products continued sales expansion efforts amid supply-demand adjustments that have continued since the previous fourth quarter,」

「Optical films for the display market, where product cycles are relatively short and market trends are uncertain」