DIC Corporation Q1 Report 2023

Net sales ¥255.2billion YoY ＋1.7％

Consolidated net sales increased 1.7%, although they slipped 3.8% on a local currency basis. Inventory adjustments were seen in multiple industries, pushing down shipments. In the Functional Products segment, in particular, sales volume in the area of digital materials, used principally in electrical and electronics equipment and in displays, was down, while in industrial materials,* used primarily in mobility solutions, prolonged inventory adjustments across the supply chain depressed shipments. In the Color & Display segment, pigments were affected by slowing economic growth in Europe, a leading market for these products, as a result of which shipments sagged.

Operating income ¥6.0billion YoY -49.0％

Consolidated net sales increased 1.7%, although they slipped 3.8% on a local currency basis. Inventory adjustments were seen in multiple industries, pushing down shipments. In the Functional Products segment, in particular, sales volume in the area of digital materials, used principally in electrical and electronics equipment and in displays, was down, while in industrial materials,* used primarily in mobility solutions, prolonged inventory adjustments across the supply chain depressed shipments. In the Color & Display segment, pigments were affected by slowing economic growth in Europe, a leading market for these products, as a result of which shipments sagged.