ニッポン高度紙工業
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株主・投資家情報
The risks of business that may seriously affect an investor's judgment are shown below. The descriptions for future shown in the text were evaluated by our company as of end of March 2011.
1   Dependence on specific business
  The ratio of sales amount of our company's main product, separator for aluminum electrolytic capacitor in total sales amount is 72.9% in this consolidated fiscal year and 62.6% in previous consolidated fiscal year. Our company has a large market share of separator for aluminum electrolytic capacitor, so the global demand trends may affect our company's accomplishment.  
 
2   Notes on effect on accomplishment due to equipment investment
  The main business of our company is the manufacturing and sale of separator. In this business category, a large amount of equipment investment is required for newly installation and expansion of manufacturing equipment (papermaking equipment) from phases of the manufacturing process and manufacturing technologies. On the phase of gain and loss, the ratio of depreciation in sales amount tends to comparatively high in the fiscal year immediately after a large amount of equipment investment is carried out.
Our company may continuously expand the manufacturing equipment for increasing the manufacturing capacity based on the demand forecasting for ensuring the stable supply system for users because our company has high market share of the separator. The charge of depreciation and increase of interest paid due to increase of debt payable negatively affected the accomplishment once temporarily, so they may negatively affect the accomplishment in future temporarily.
 
 
3   Notes on effect due to generation of large-scale earthquake
 

Our company is taking measures against earthquake by dispersing the manufacturing site for reducing the risk due to large-scale earthquake. However, if large-scale earthquake is generated, it affects securement of employees' safety, securement of raw materials, and continuity of manufacturing and it may affect our company's accomplishment and financial status seriously.

Our company resolved the new construction of separator manufacturing equipment in Yonago-shi, Tottori-ken in the board meeting held on August 10, 2010 and is constructing it for starting the operation in September 2012. It is the plan from viewpoint of BCP (business continuity plan), which was a pending problem in addition to enhancement of supply system.

"BCP formulation project" that was consulted on since April 2010 was terminated in December 2010 after presenting the improvement of operation of emergency earthquake alert and employees safety confirmation systems on software phase and concrete issues and solutions in in-house manufacturing / utility equipment, IT system, materials / fuels, and logistics field on hardware phase. We will consult on BCP according to 5-year plan for resolving individual issues extracted now.

 
 
4   Note on effect due to exchange rate fluctuations
  The ratio of overseas sales amount in our company's consolidated net sales is 45.8% in this consolidated fiscal year and 45.8% in previous consolidated fiscal year is 45.8%. We are making efforts to reduce the exchange risk by shifting to yen-denominated trade and reduce the exchange rate risk by importing large amount of main raw materials of separator, which is our main business, in foreign currency. However, the risk cannot be completely eliminated and the exchange rate risk may affect our company's accomplishment.  
 
5   Note on raw materials procurement risk
  A major raw material, the pulp is supplied from pulp companies in developing countries. Our company is making efforts for stable procurement by purchasing it from two companies considering adverse weather conditions and political uncertainty, however, the procurement may become difficult due to problems of quality and supplying capability and it may affect our company's accomplishment.  
 
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