President and Representative Director
We express our deepest gratitude for your ongoing support of the Ferrotec Group, and provide the following comments together with the company’s 37th annual financial results.
On April 1, 2017, Ferrotec Corporation changed its name to Ferrotec Holdings Corporation and shifted to a holding company structure. The holding company will be responsible for management, administration, and R&D across the Ferrotec group, while Ferrotec Corporation will be the operating company responsible for areas such as customer support, sales, manufacturing, and quality assurance.
In relation to Group results in the equipment-related segment, both capital expenditure and capacity utilization were high in semiconductors, memory and the like for electronic devices such as smartphones and tablets. This caused vacuum feedthroughs and materials products to grow positively also.
In the electronic device segment, demand for the company’s core technology, thermo-electric modules, firmed up for automotive climate control seat use, with automotive sales doing well throughout the year in both the North American and Chinese markets. This core technology is also proving useful in customer’s everyday lives as it continues to be adopted in home electrical products such as water coolers and beauty appliances.
In the photovoltaic-related business, on the other hand, an inventory adjustment was needed in the Chinese solar panel market in the second half, which created difficult business conditions. We are continuing to implement measures such as culling unprofitable products and eliminating equipment to improve profits. We are also implementing our M&A strategy to expand the scope of the Group’s business overall, and seek your support for this step on our path to future growth.
For all our shareholders the Ferrotec Group is striving hard to remain the company whose progress brings joy.
We sincerely hope to enjoy your ongoing support into the future.
Results for the fiscal year ended March 31, 2017 VIDEO
2017 IR VIDEO
Ferrotec semiconductors factory guide
90 Second Overview of Ferrotec’s Thermo Electric Modules