Based on the Mid-term Management Plan 2028 “Achieving Evolution,” formulated in May 2024, the Company has been working to achieve sustainable growth and enhance corporate value by balancing growth investments with shareholder returns. Progress under the plan has been generally steady, and our business portfolio has continued to expand, particularly in the photonics field.
Meanwhile, the external environment surrounding the Company has changed since the formulation of the plan, increasing the uncertainty regarding emerging opportunities and challenges. These changes include the accelerated research and development of photoelectric fusion technologies, the emergence of social challenges associated with the expansion of data center construction, and growing uncertainty in procurement and logistics conditions due to heightened geopolitical risks. In addition, the continued depreciation of the yen has had a certain level of impact on our business environment. In light of these changes in the external environment, demand for optical semiconductors for data centers is highly likely to expand beyond our initial assumptions, and capturing this demand has become a critical issue for our growth. Recognizing these circumstances, the Company has updated its Mid-Term Management Plan, positioning Photonics as a key growth driver and aiming to capture the expanding demand. Looking ahead to the next Mid-Term Management Plan, we will prioritize and accelerate research and development, drive transformation of our business portfolio, and achieve sustainable growth even under a rapidly changing business environment.

(May 13, 2026)

In order to expand our business portfolio and build a management base resilient to changes in the business environment, the Company will continue to implement updated initiatives under the following three basic policies in response to changes in the external environment:
1. Expanding Businesses in the Growth Domains
2. Qualitative Strengthening Businesses in the Existing Domains
3. Evolution of the Management Base

The Company will place particular focus on the following key issues and initiatives.

■ Expanding Businesses in the Growth Domains: Achieving High Growth by Capturing Growth Opportunities in the Photonics Business
In the Photonics business, demand for optical semiconductors and optical transceiver-related products is expanding at a pace exceeding our initial assumptions, driven by the increasing sophistication and scale of data centers. At the same time, technological innovation is accelerating further in line with faster communication speeds and enhanced functionalities, making it essential to strengthen research and development capabilities and continuously introduce high-value-added products. The Company will focus on R&D investments centered on differentiated technologies such as silicon photonics–ready devices and high-speed response photodiodes, while strengthening its production capacity to respond to expanding demand, thereby achieving high growth.

■ Expanding Businesses in the Growth Domains: Advancing Sophistication of the Automotive Business with a View to Future Demand
In the Automotive business, steady demand growth is expected, driven by the shift toward electrification, an increase in the number of in-vehicle displays, and the trend toward larger displays, particularly for Anti-reflection Films (ARF). Meanwhile, diversification in required specifications and functionalities by customer and region is increasing, and addressing market fragmentation has become a key challenge. The Company will promote the introduction of high-value-added products through new optical design and expand its product offerings in line with customer- and region-specific needs, while advancing the business through the provision of solutions that achieve both design and functionality.

■ Qualitative Strengthening Businesses in the Existing Domains: Enhancing Business Value Leveraging Established Technologies and Expertise
In the existing domains, particularly for Anisotropic Conductive Films (ACF) and Anti-reflection Films (ARF), it is essential to strengthen business quality through the introduction of high-value-added products and the exploration of new applications. As market conditions evolve and devices become more sophisticated, customer needs are becoming increasingly advanced and diverse, requiring enhanced capabilities in proposing solutions based on differentiated technologies. The Company will deepen its core technologies, including bonding and process technologies, while leveraging the technologies and expertise cultivated in existing domains and expanding them into growth domains, thereby enhancing added value and establishing sustainable competitive advantages.

• FY2024 to FY2028 Mid-Term Management Plan “Achieving Evolution” Updates（1,472KB)

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