Message for Shareholders and Investors

Message to Shareholders and Investors

I would like to take this opportunity to thank our shareholders for their continued support.

The Group has formulated a three-year midterm business plan beginning in FY2021 and is working to achieve sustainable growth by pursuing a two-fold core policy: “transformation into a lean organization” and “transformation of the business portfolio.”

In FY2021 we consolidated our mass production function previously operating in two factories in Japan and Thailand to the Thai factory. Moreover, we optimized the workforce in Japan by implementing an early retirement program. As a result, we made a major advancement in our effort to achieve transformation into a lean organization.
Although our business operations were affected by such factors as the difficulties in procurement of semiconductors and other parts and delays in marine transport, demand recovered strongly in the run-up to the normalization of economic activities and we were able to increase revenues by responding to new needs that arose during the COVID-19 pandemic.
In these circumstances, in regard to the consolidated financial targets of the midterm business plan, we achieved the final year targets for operating income in FY2021, two years in advance of the plan, and therefore we reset the consolidated financial targets. At the same time, we revised the midterm business strategy for transformation of the business portfolio as needs in each business field have become clearer.

In these endeavors, we look forward to the continued support of our shareholders.

March 2022

Kohei Tanabe
Kohei Tanabe
President, Representative Director