Top Message

To Our Shareholders and Investors

We would like to express sincere gratitude to our shareholders and investors for their solicitude to TOYO every time.

During FY2018, we had held up three basic policy themes such as “Reformation of business structure”, “Enhancement of organizational capability” and “Reinforcement of financial base” and have strived to reform all areas of our management and business operations as well as to recover profitability. We however recorded net loss for the last two consecutive fiscal years due to cost overrun of Ethylene Project in USA. It is our deep regret that we have considerably undermined shareholder’s trust.

Nevertheless, based on the first policy theme “Reformation of business structure”, we are identifying manageable risks and recovering profitability by selection and concentration of products and market with two pillars of Plant and Infrastructure business. In parallel, we also devote to Non-EPC business utilizing leading-edge technologies, in order to ensure certain stable profitable base. We would like to especially highlight that all projects of which we got orders after FY2015 are proceeded soundly in both of budget and schedule point of view. This is a remarkable result of various measurements on enforcement of governance which we have performed since FY2015 under the second policy theme “Enhancement of organizational capability”, such as thorough risk management on both of proposal control process and project management. Besides, in accordance with the third policy theme “Reinforcement of financial base”, we could procure \15 billion in March of this year and consequently, strengthened the equity capital. These funds will be utilized on digitalization and R&D for reinvigorating competitiveness.

I lead the Company to line up the mind and vector of each employee and put various reforms forward for returning to a growth track. Besides, I lead the Company to create corporate culture so that every employee practices our common spirit raised through corporate slogan “Your Success, Our Pride.” I promise that we will build up new TOYO which can receive the stakeholder’s trust again.

We look forward to the continuous support of our shareholders.

June 2019
Haruo Nagamatsu
President & CEO

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