DIC Corporation Half-Year Report 2023

Net sales ¥515.3 billion YoY -1.2％

Operating income ¥10.0 billion YoY -58.4％

• 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 declined.
• Sluggish demand and inventory adjustments were seen in multiple industries, pushing down shipments. In the
  Functional Products segment, in particular, sales volume for digital materials, used primarily in electrical and
  electronics equipment and in displays, was down, while shipments of industrial materials,* used primarily in mobility solutions, languished as the resolution of inventory adjustments across the supply chain was delayed.
• Operating income fell. This was due largely to sinking shipments of pigments for coatings and for plastics, as well as high-value-added products, notably digital materials and materials used in mobility solutions.