Ferrotec Global




36th Term Second Quarter Financial Statement

To the attention of our Shareholders

Akira Yamamura
Founder & CEO

Let me express my sincere feelings of gratitude for your continuous support towards Ferrorec Corporation and allow me to address a message of salute upon delivering hereby the 36th financial results.
The electronics industry in which our Group belongs witnessed solid progress due to the market growth of electronic devices such like smart-phones and tablet PC’s, and capital investments from the semiconductor and FPD industry was very active, thus creating a favorable framework as per the sales of our Material related products.
In the automotive industry, sales in the North American and Chinese market remained very strong throughout the year, which has contributed to increased sales of our core product, the Thermo-electric module designed for the climate control car seats, along with new applications for this device such like water servers or beauty home appliances contributing to people everyday’s comfort.
On the other hand, the photovoltaic industry struggled due to the impact of falling prices of solar panels, and customer was forced to adjustments in production, if not bankruptcy. It is a severe business environment but our efforts in operating with better efficiency and measures of restructuration towards profit improvements are starting to pay off.
We have also pursued our M&A activity to keep expanding our business portfolio, for which I solicit your acknowledgement as I am certain that these are necessary steps in creating future growth drivers.
To our Shareholders, we will remain as a company that provides happiness and excitement towards continuous progress.
Looking forwards to your exceptional support for the future.  

Financial Highlights