To Our Shareholders and Investors

Tatsuya Nakajima President / Toru Kamimura Vice President

Tatsuya Nakajima President / CEO

Toru Kamimura Executive Vice President

We will achieve sustainable growth by strengthening our proposal of solutions and expanding globally.

In the fiscal year under review (ended December 31, 2023), consolidated net sales stood at ¥56,400 million (up 3% year on year) and operating profit came to ¥5,900 million (down 6% year on year), reflecting the recovery of demand in the individual markets in the second half and the successful results of our strengthened sales and promotional activities, despite the impact of a decline in customers’ motivation to invest, their inventory adjustments and a reduction in their capital investments, which is a result of the global credit crunch, and the surging prices in Japan and other countries.

While the economic environment is expected to remain uncertain in the next fiscal year, we will step up our Group-wide efforts to shift to solution proposal business and expand our business to overseas markets, aiming to attain record results for net sales at ¥61,000 million and operating profit at ¥6,600 million and achieve solutions to various social issues and sustainable growth through business.

The Group determines dividends with a dividend payout ratio target of 30%, taking into account a balance between reinforcing the management fundamentals and maintaining a stable dividend. In the fiscal year under review, we paid an annual dividend of ¥40 per share, an increase of ¥4 from the previous fiscal year.

We appreciate the continued support of our shareholders and investors.