Message from the President

Thank you for your continued support of Uyemura.

I would now like to make a few comments about our operating environment before reporting on Uyemura’s results for the 97th fiscal term (April 1, 2024 – March 31, 2025).

During the fiscal year, the Japanese economy saw a moderate recovery trend on the back of improved employment and income conditions. However, the economic outlook remains uncertain due to the slowdown of overseas economies, rising prices, soaring resource and raw material prices, and fluctuations in interest and exchange rates.

In the electronics device market, which is the Uyemura Group’s main market, the decline in demand for our products caused by inventory adjustments of semiconductors and electronic components used for PCs and data centers bottomed out and recovered moderately. In the car electronics industry, demand for on-vehicle power devices and Advanced Driver-Assistance System (ADAS)-related products generally remained firm as automobile electrification and autonomous driving technology progressed, despite the recent slowdown in the growth of the electric vehicle (EV) market.

As a result, both sales and operating profit were higher than one year earlier because demand for our mainstay plating chemicals for package PWBs remained firm in the surface finishing materials business.

Regarding the future prospects of the domestic economy, the economy is expected to see a moderate recovery due to improved employment and income conditions. However, the sharp tariff hikes by the U.S. are leading to growing signs of slowdown in economies around the world.

In the electronics device market, demand for advanced package substrates is expected to increase, especially in AI-related sectors, although there are also concerns over the impact of the U.S. tariff policy on the market.

Under such environment, the Group will aim for continued growth by emphasizing innovation at the factory level. We will create a system that can swiftly respond to market changes and act flexibly by making the most of the Group’s collective strength.

We ask for your continued support. Thank you.

June 2025