Business Report for Fiscal 2024
From April 1, 2024 to March 31, 2025
Message from the President and CEO
To all shareholders, thank you very much for your ongoing support for GSI Creos. We completed business operations for Fiscal 2024, and we would like to provide you with a report on our financial situation.
Guided by our Purpose, "As a 'Business Producer' seeking quality of life for the next generation, we realize the happiness of all the people," our Group is working to achieve the two key goals in our Mid-Term Management Plan (Fiscal 2024 is the final year): "reaching new record-high net profit" and "boosting confidence within capital markets."
As a result, even though there was a recording of expenses accompanying the restructuring of our business portfolio, there was growth in transactions related to functional yarns and fabrics for innerwear and paint raw materials for overseas, and so on, as well as the contribution of extraordinary income resulting from negative goodwill accompanying acquisition of the triacetate fiber business. Due to factors such as these, we recorded a record high net profit, and also reached a new record high in sales. Furthermore, since the time of the restructuring of the Tokyo Stock Exchange, we have steadily maintained listing on the Prime Market, and we have succeeded in achieving the various targets set forth in our Mid-Term Management Plan.
In Fiscal 2025, we shall steadily implement the measures set forth in the new Mid-Term Management Plan that we will be working on, "GSI CONNECT Phase 2," and we shall aim to further boost our corporate value in order to serve as an "unparalleled business-creating trading company that continues to create and innovate."
As such, we would like to ask all of you, our shareholders, for your continued support and encouragement in the future.
Tadaaki Yoshinaga
Representative Director, President and CEO
Report on Fiscal 2024 Results(Millions of yen)
Net Sales
Operating Profit
Fiscal 2023
146,194
Fiscal 2024
165,541
Fiscal 2023
Fiscal 2025 Result Forecast
Net Sales
166,000
Operating Profit
3,200
Ordinary Profit
3,200
Profit Attributable to Owners of Parent
2,400
2,881
Fiscal 2024
2,950
Ordinary Profit
Profit Attributable to Owners of Parent
Fiscal 2023
2,999
Fiscal 2024
2,548
Fiscal 2023
2,019
Fiscal 2024
2,358
Results by Division
Textile Materials Division | ||
Although the sales of products of apparel-related subsidiaries that had | ||
decided to withdraw from the market were sluggish, and there was a | ||
recording of acquisition-related expenses that resulted from receiving the | ||
transfer of the triacetate fiber business, transactions related to functional | ||
yarns and fabrics for innerwear grew due to an increase in demand for | ||
finished products, and transactions related to exports of fabrics to Europe | ||
and the United States were robust. As the result of factors such as these, | ||
both sales and profits increased year-on-year in the business overall. | ||
20.8%
Net Sales
79.2%
Net Sales
Fiscal 2023
114,010
Fiscal 2024
131,049
Operating Profit
Fiscal 2023
1,616
Fiscal 2024
1,618
(Millions of yen)
Industrial Products Division | ||
In the business related to chemicals, transactions related to paint raw | ||
materials for overseas grew, and in addition, the profit margin improved. | ||
Domestic transactions related to functional resins and films were also | ||
robust. Furthermore, in the business related to semiconductors, transactions | ||
increased due to the continuation of demand for manufacturing equipment | ||
parts and so on, and in the business related to hobby goods, transactions | ||
were robust both domestically and overseas. As a result of factors such as | ||
these, both sales and profits increased year-on-year in the business overall. | ||
56.6%
Operating Profit
43.4%
Net Sales
Fiscal 2023
32,183
Fiscal 2024
34,491
Operating Profit
Fiscal 2023
1,951
Fiscal 2024
2,108
* Operating profit is the sum of operating profit by segments, intersegment eliminations and corporate expenses (-686 million yen in FY2023 and -777 million yen in FY2024).
Overseas Sales Ratio
70.3%
Year-on-year
+3.9pt
▶Divided by Region
Asia 60.1％
Americas Europe and others Japan
7.3％ 2.9％
29.7％
1
Results by Segment(Millions of yen)
Textile Materials Division
Operating
Profit
Net Sales
Fibers
99,258
Operating
Profit
Net Sales
12,201
169
（Year-on-year ＋17,843） （Year-on-year ＋152）
Profit
Increase Functional yarns and fabrics for innerwear
（Year-on-year ＋369） （Year-on-year ▲35）
Profit
Decrease Innerwear products
Operating
Profit
Net Sales
19,590
（Year-on-year ▲1,174） （Year-on-year ▲114）
Decrease
Profit Apparel products
Industrial Products Division
Semiconductors
Operating
Profit
Net Sales
Operating
Profit
Net Sales
10,640
457
5,519
597
（Year-on-year ＋1,693） （Year-on-year ＋47）
Profit
Increase Semiconductor-related products
（Year-on-year ＋173） （Year-on-year ＋20）
Profit
Increase Hobby-related products, cosmetic raw materials
Operating
Profit
Net Sales
Operating
Profit
Net Sales
13,909
918
4,420
135
（Year-on-year ＋990） （Year-on-year ＋253）
Profit
Increase Paint raw materials for overseas, functional resins and film
Composition of Net Sales
（Year-on-year ▲550） （Year-on-year ▲164）
Decrease
Profit Large-scale mechanical equipment
Net Sales 165,541 (Millions of yen)
60.0%
11.8%
8.4%
7.4%
6.4% 3.3% 2.7%
Mid-Term Management Plan "GSI CONNECT Phase 2" (2025-2027)
Vision for 2031 (100th Anniversary of our establishment) Quantitative Targets for Fiscal 2027 100 Years and Beyond
To be an unparalleled business-creating trading company that continues to create and innovate
Basic Policy
Based on the foundation established under "GSI CONNECT 2024," we will increase our corporate value through "Evolution x Growth " by continuously taking on challenges without being constrained by existing frameworks.
Priority Measures
①Implement Capital Cost Management
②Strengthen the Group's Foundations and Promote Collaboration
③Promote ESG Management
Net Sales Ordinary Profit ROE
￥177Billion ￥4Billion Over 10%
Operating Profit
￥4Billion
Profit Attributable to
Owners of Parent
￥3Billion
Dividend Payout Ratio*
50%
*Progressive dividend policy with a minimum payout of 100 yen per share
We will CONNECT to the new stage, our 100th anniversary, by accelerating the development of the Group through a combination of "Evolution (innovation)" and "Growth (expansion)".
2
Dividend Information (as of June 26, 2025)
Transition of dividend per share and dividend payout ratio
¥65.0
¥73.0
¥83.0
¥30.0
18.6%
48.9%
50.6%
50.4%
51.1%
50.5%
¥97.0
¥100.0
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
(Forecast)
*GSI Creos implemented a 2-for-1 stock split of common stock dated April 1, 2021, so the dividends per share are amounts calculated assuming that the stock split was carried out at the beginning of Fiscal 2020.
Company Profile (as of March 31, 2025)
Company Name GSI Creos Corporation
Head Office 3-8-2, Shiba, Minato-ku, Tokyo
Established October 31, 1931
Capital ¥7,186 million
Employees 823 (Consolidated)
Offices 9 domestic 24 overseas
Consolidated Subsidiaries 10 domestic 9 overseas
Website https://www.gsi.co.jp/en/index.html
Directors and Executive Officers (as of June 26, 2025)
Directors
Representative Director, President and CEO Director,
Senior Managing Executive Officer
Tadaaki Yoshinaga
Masateru Nakayama
Outside Director Kazunori Hattori
Outside Director Erika Chibazakura
Director,
Senior Managing Executive Officer Director,
Managing Executive Officer
Executive Officers
Hiroki Nishimura Kunihiro Ono
Director,
Full-time Audit and Supervisory Committee Member Outside Director,
Audit and Supervisory Committee Member
Outside Director,
Audit and Supervisory Committee Member
Fumihiro Onishi Takafumi Hayano
Keiko Hatta
Senior Executive Officer Yuichi Tamura
Senior Executive Officer Motoya Nakamura
Senior Executive Officer Tetsuya Mukai
Executive Officer Akinori Hamano
Executive Officer Toyoshi Adachi
Executive Officer Satoshi Fukuoka
Executive Officer Takeshi Ouchi
Executive Officer Kazuya Uchiyama
Executive Officer Masahiko Morita
Executive Officer
（Strategic Human Resources Management）
Yumiko Okuyama
Stock Information (as of March 31, 2025)
Total number of shares authorized to be issued | 40,000,000 |
Total number of shares issued | 12,629,942 |
Number of shareholders | 28,247 |
3