Despite the impact of logistics delays in the U.S. market, sales increased substantially in the Machine Tools Segment owing to robust trends across a wide range of industries as a result of the recovery in overall economic conditions. In Europe, sales grew significantly. This was largely attributable to the recovery in automobile-related sales. As far as Asia is concerned, sales increased substantially. In addition to sustained strong sales of telecommunication-related products in China, this was also due to the recovery in automobile-, medical-, and other-related sales. On the domestic front, sales in Japan grew significantly on the back of robust mainstay automobile-relate and other sales.

Despite the impact of tight component supply and delays in distribution, sales increased substantially in the Special Products Segment. This largely reflected robust food delivery-related sales in the U.S. market. In Europe, sales were strong, especially for large-lot projects. In Japan, sales increased significantly due to strong mPOS demand.

The Star Micronics Group formulated its Medium-Term Management Plan as part of a review of its Corporate Philosophy, Purpose, Management Policy, and Action Guidelines to empower employees to make decisions and act autonomously as we seek to become a company that grows sustainably together with society. At the same time, we formulated a Vision for 2030. (Please refer to pages 10-14 of the Company’s Medium-Term Management Plan for details.)

In order to realize its Vision for 2030, the Company has divided the next nine years into three-year periods. In working toward “building a foundation for change,” “driving change,” and “realizing our vision” over each period, respectively, Star Micronics has formulated the first Medium-Term Management Plan covering the three years from 2022 to 2024. Issues to be addressed are presented as follows.

Positioning the mPOS and food delivery markets as a principal area of operations, the Star Micronics Group will work to further expand sales of printers and other products while at the same time refining software technologies in a bid to continue providing new value to customers. Through these means, the Group will endeavor to become a total solution provider for store operations in the Specialty Products Segment.

In the Machine Tools Segment, the Group will strengthen the production system in Thailand and China, position the Kikugawa Factory as a sustainable factory that nurtures people, develops technology, and grows together with society and promote large-scale renovation in order to meet robust demand for facilities and equipment. At the same time, steps will be taken to delve deeper into hardware technologies and adopt software technologies, and to further cement the Group’s position as a leading manufacturer of automatic lathes.

As far as new business is concerned, the Group will focus on uncovering opportunities in the three production DX, store DX, and logistics DX domains while aiming to construct a new business model mainly through M&As.

From a Group-wide perspective, energies will be directed toward strengthening the management platform, reforming human resource systems that allow employees to maximize their potential, and constructing R&D structures and systems to continuously create proprietary technologies, while moving forward with initiatives to address material issues based on the Sustainability Policy.