Air Water’s sales revenue increased by 13.1% with the operating profit down 4.6% and the profit for the term attributable to the owners of parent company down 7.1%. With the contribution of the thriving electronics and medical fields, Air Water broke through the great target of Sales Revenue of 1 Trillion Yen, which had long been aimed since 2010. To commemorate the accomplishment of the target, Air Water will add an extra dividend of 4 yen making the end-term dividend risen to 32 yen and the annual dividend up to 60 yen in total.

In the Digital and Industrial field, the sales revenue increased by 18.6% with the operating profit up 4.3%. In addition to the continuing good sales of equipment/materials for the electronics, the revised unit selling prices of on-site gases for steelmakers turned out to be a positive factor. As the steelmaking and automotive industries in India were active and brought steady results in the fields of on-site, tank-truck and cylinder business.

In the Energy Solutions field, the sales revenue increased by 8.8% with the operating profit down 18.6%. While there was an increase in the prices of LP gas and kerosene in connection with the market, the result was a decrease in profit because of the influence of declined sales of dry ice due to the difficult procurement of raw material. In the Health and Safety business, the sales revenue increased by 8.5% with the operating profit up 16.6%. The newly obtained project for SPD installation, hospital facility construction and gas fire extinguishing equipment contributed to the recovery of demand.
In the Agriculture& Foods business, the sales revenue increased by 9.0% with the operating profit down 3.4%. Although the ham and delicatessen field showed an upward trend owing to the recovery trend of commercial food business, it faced an increase in the raw material cost of beverage and sweets as well as the energy cost hike.

In the Other Business fields, the sales revenue increased by 15.1% with the operating profit down 90.1%. The North American industrial gas business showed so steady pace with the orders for CO2-related equipment and liquid hydrogen tanks that the revenue grew 1.5 times more than the previous period. In the power generation business, the price-hike of fuels for generation and transportation cost gave negative effects.

The full-year forecast for 2023 is that a sales revenue will increase by 7.5% amounting to 1080 billion yen with an operating profit up 23,4% amounting to 32 billion yen. A net profit for the term attributable to the owners of parent company is estimated to increase by 22.4% amounting to 20 billion yen. In the Digital and Industry out of all, the forecast of sales revenue has been set to increase by 6.6% amounting to 365 billion yen with an operating profit up 15.9% amounting to 33.6 billion yen. It is anticipated that the cost-wise influence will be calmed down.

Regarding the accomplishment of the target “Sales Revenue of 1 Trillion Yen,” President Ryosuke Matsubayashi expressed his wish to aim for higher target saying, “The accomplishment was the fruits of efforts united by all people of our company and it is very significant. Domestically, I think the investments we have so far made mainly in the electronics field will bear fruits. I wish to keep an eye on the efforts of regional people as the main player to develop business. As for the overseas business, we are going to make M&A activities and capital investments placing our emphasis for competition upon North America where innovations are advancing and India where a great growth is anticipated.”