We apologize for the delay in the third quarter earnings announcement, which was scheduled to be held on January 29.
Unfortunately, the results fell short of expectations, and we regret to announce the second downward revision for this fiscal year.
We sincerely apologize to all KIMOTO fans.
The downward revision was due to a sharper-than-expected decline in sales, driven by a sudden slowdown in demand for touch panels centered on smartphones since last fall, as well as the recording of special losses and the reversal of deferred tax assets.
"A crisis is an opportunity." This phrase was coined by our founding president, Ujihito Kimoto, during the oil shock of 1973 when KIMOTO was facing tough times.
We will keep this phrase close to our hearts and continue our efforts to live from yesterday to today and into tomorrow.
Since July 2014, our website's 'President's Message' has been filled with apologies regarding our performance, and we deeply regret the lack of opportunities to share good news with our fans.
We have officially launched 'Communication Design for Manufacturing,' a project we have been working on for the past three years as our third business. We have also been developing '3D Point Cloud Data Processing Technology for Spatial Information (Data Kitchen = Data Processing Cafeteria)' for the past five years after a 20-year hiatus. Additionally, we have established the 'Release Film' using adhesive technology seven years ago and are developing new markets for the 'Weltoner' printing film, which we developed for the first time in ten years.Combining our promising products and technologies, we have more than ten development projects.
We will diligently pursue the potential of each of these products and bring them to fruition with the collective effort of all our employees.Our fourth mid-term management plan will be completed this May. We would be grateful to receive feedback from our fans.
We will continue to strive to be an 'attractive company,' and we sincerely appreciate your warm support.
Thank you.
February 9, 2016
KIMOTO Co., Ltd.
President and Representative Director Kazunobu Kimoto