Full Year 2023 Morinaga & Co Ltd Earnings Presentation Transcript
Hello, everyone. I'm Ota. Thank you all for taking time out of your busy schedules today to attend our financial results briefing for the fiscal year ended March 31, 2023.
As I explained a year ago in May, we were affected by a sharp increase in raw material prices and energy costs that were higher than expected during the fiscal year as well as the significant impact of foreign exchange rates. In terms of earnings, this was lower than the initial forecast and the previous fiscal year. However, in terms of sales, we were able to steadily increase the top line, mainly in focus domains and exceeded our forecast at the beginning of the period, achieving record high sales for the second consecutive fiscal year.
As we will explain later, the effect of the price
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