We would like to express our sincere gratitude to our shareholders for their continued support.

For the current fiscal year (FY2024), we focused on the automobile-related business, particularly materials for electric vehicles (EVs). This market expanded steadily, but our business remained lackluster in key markets affected by sluggish electronic component production on the back of the delayed economic recovery in China and other factors, resulting in a decline in both sales and profits year-on-year.

Despite the current challenging business environment, in the electronics industry surrounding the Group, the market is expected to expand in the medium- to long-term driven by rising demand in various fields. We are now in the second year of our Medium-term Corporate Strategy, "elematec Pro+." We will continue to allocate resources with a focus on growing fields such as automotive and steadily implement each measure, while making the best use of the Group's comprehensive strengths and providing added value to our customers, thereby achieving our sustainable growth.

We sincerely ask our shareholders for their continued understanding and support.

June 2024