TOKYO OHKA KOGYO CO., LTD. (TOK) provides chemical products, such as photoresist, and equipment for semiconductors and liquid crystal displays.

To Our Shareholders & Investors

To Our Shareholders & Investors

IR Info.

President Ikuo Akutsu reports business results and development
and explains the future tasks and strategies.

Looking Back over the Fiscal Year Ended March 31, 2017

Results of Operations

President Ikuo Akutsu

Consolidated net sales for the fiscal year ended March 31, 2017 was ¥88,764 million (down 1.3% year on year). Operating income was ¥9,954 million (down 20.0%), and profit attributable to owners of parent was ¥6,343 million (down 17.8%).

Though the business performance was lackluster as indicated above, we set the year-end dividend per share at ¥32 to express gratitude to our shareholders for their constant support and with a view to stable profit returns. Combined with the interim dividend of ¥32, annual dividend is unchanged year on year at ¥64 per share for the fiscal year ended March 31, 2017.


Change in consolidated net sales
Changes in operating income, profit attributable to owners to parent, and annual dividend per share


Business Development

Electronic functional materials maintained strong performance
  • Sales of photoresists used to manufacture semiconductors and high-density integration materials increased.
  • Sales of high purity chemicals decreased.
  • Mass Production Plant for High-functional Films Completed.

Electronic functional materials stayed strong,driven by growth in demand for high value-added products for advanced semiconductor manufacturing processes, such as high-density integration materials and KrF (krypton fluoride) excimer laser photoresists. However, high-purity chemicals were lackluster, mainly in North America and Asia.
As for new business leveraging our microprocessing technology, we put mass production facilities into place for high-functional films that are highly resistant to heat and chemicals, and started production.

Sales Composition of Semiconductor Photoresist by Region

Robust performance in Japan.

In the fiscal year ended March 31, 2017, sales volume of semiconductor photoresists were robust in Japan, which led to higher net sales year on year and a rise in the net sales composition ratio of the region. Meanwhile, sales volumes in North America and Asia were brisk as major users geared up mass production of semiconductors using cutting-edge processes. Nevertheless, net sales were weakened by a stronger yen and the net sales composition ratios of those regions declined accordingly.
In the fiscal year ending December 31, 2018, we expect demand to grow in North America and Asia. Further, we project growth in sales volumes of products for 3D-NAND flash memory in Japan, where market expansion is anticipated.

Challenge and Strategy for the Future

Status of the TOK Medium-Term Plan 2018

Under the TOK Medium-Term Plan 2018, we will forge ahead with initiatives based on four Company-wide strategies: 1) Reform business portfolios, 2) Evolve our strategy of building close relationships with customers, 3) Develop global personnel, and 4) Strengthen management foundation and realize the TOK Group concept.
In the Material Business, we will continue to capture more market share for the excimer laser photoresists, which are used in semiconductor manufacturing. We will also work to grow sales of high-density integration materials and other high value-added products. In the Equipment Business, we will focus on leveraging our technological edge in the 3D packaging market to expand sales of the Zero Newton wafer handling system for through-silicon via (TSV) process.
Due to the change in fiscal year-end, the fiscal year ending December 31, 2018 includes consolidated results for the 9 months from April through December for the Company and domestic subsidiaries, and consolidated results for the 12 months from January through December for the overseas subsidiaries as before. 

To Our Shareholders & Investors