• Industrial Films overlaid on effective cost reduction – FY3/26 performance ended on a strong note, buoyed by sustained momentum in Industrial Films, specifically driven by MLCC mold-release films and SRF. Concurrently, the turnaround in the "Businesses Requiring Improvement" exceeded initial targets. Within this segment, the consolidation of manufacturing operations for Airbag Fabrics bore fruit, and Nonwoven materials achieved meaningful structural cost efficiencies. Driven by robust operating cash flows and the normalization of capital expenditure, free cash flow reached a pivotal inflection point and remained positive throughout FY3/26. We anticipate this powerful recovery momentum will be sustained across the new medium-term management plan through FY3/31.
