DIC Corporation Full-Year Report 2023

Net sales (¥1,038.7 billion YoY -1.5%)

Shipments were down for pigments in the Color & Display segment, as well as for digital materials, used principally in electrical and electronics equipment and in displays, and industrial materials,* used primarily in mobility solutions, in the Functional Products segment

Operating Income (¥17.9 billion YoY -54.8%)

Operating income fell sharply. This was due largely to sinking shipments of high-value-added digital materials and materials for use in mobility solutions, as well as to the temporary suspension of operations at certain production sites in the United States and Europe, a move aimed at paring inventories of pigments.

Net income attributable to owners of the parent (¥39.9 billion YoY Loss)

A steep increase in extraordinary losses, owing to a ¥19.7 billion impairment loss on goodwill related to the

Colors & Effects pigments business, acquired in 2021, pushed results into the red.

FY2024 forecast

Fiscal year 2024 full-term forecasts are for net sales of ¥1,100 billion, operating income of ¥30 billion and net income attributable to owners of the parent of ¥10 billion. Effective from fiscal year 2024, a minimum limit of 100 per share will be introduced for annual dividends.