Greetings

 First, we would like to sincerely thank you, our shareholders, for your continued support.
 This is to inform you that our Company’s Business Report for the 40th fiscal year (from October 1, 2017 to September 30, 2018) is now available for your review. On this occasion, we would like to say a few words.
 The business environment surrounding the Company promises sustained growth for our businesses in the medium- to long-term, as customer demand for the Company’s products remains strong. Under such circumstances, we implemented measures in the current fiscal year that aimed for medium- to long-term business expansion including the construction of the new factory in Japan and the third factory in India, as well as the improvement of existing machinery and the development of new models. In terms of our business results, as mentioned below, we reached the highest levels ever recorded in gross profit, as well as securing the second highest levels behind the previous fiscal year in net sales and other profit items. Once again, we extend our heartfelt appreciation to our shareholders for your assistance and cooperation. As for the annual dividends for the fiscal year ended September 30, 2018, 60 yen per share was paid out on December 3.
 Going forward, we anticipate changes in the external environment, including intensified competition with our competitors, the risk of exchange fluctuations and changes in the global economy.
 Under such circumstances, we will be implementing measures to expand our business in the medium- to long-term and enhance our corporate competitiveness. In terms of production, we will focus on the effective utilization of the new factory in Japan and the third factory in India in order to enhance our production capacity and to reduce production costs. Additionally, in terms of technology, we will make efforts to raise our product competitiveness by improving production efficiency of existing mainstay products through the adoption of new molding processes and the development of new generation products, among others. And finally, in terms of sales, we will focus on expanding our sales by ensuring our new products thoroughly penetrate the market.
 We hope our shareholders will look forward to our company’s further growth, and we would greatly appreciate your continued encouragement.

December 2018
Representative Director, Chairman and CEO
Daiichi Aoki


Representative Director, President and COO
Junichi Miyasaka