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Message from the CEO

I am pleased to report our results for fiscal 2020, ended March 31, 2021.

During the fiscal year under review, markets in Japan and overseas continued to be in an adjustment phase amid the impact of COVID-19 and other factors. From the middle of the year onwards, orders received are rallying, reflecting a recovery of demand, primarily in China. As a result, consolidated revenue for the fiscal year under review increased 25.0% year on year, to ¥61,662 million. Consolidated revenue in Japan declined 37.4% year on year, to ¥6,129 million. Consolidated exports increased 40.5%, to ¥55,532 million. The export ratio rose 10.0% , to 90.1%. A breakdown of consolidated revenue by machinery category shows that revenue of mainstay automatic lathes rose 33.2% year on year, to ¥51,810 million, revenue of grinding machines decreased 28.8%, to ¥2,489 million, revenue of machining centers, rolling machines and other specialized machines increased 21.5%, to ¥4,096 million.

Consolidated operating profit increased 109.5% year on year, to ¥9,533 million. Consolidated profit attributable to owners of parent climbed 145.7%, to ¥4,917 million for the fiscal year under review.

For the consolidated fiscal year ended March 31, 2021, the Company has decided to pay annual dividends of 26 yen per share, including interim dividends of 12 yen per share and year-end dividends of 14 yen per share. For the consolidated fiscal year ending March 31, 2022, the Company plans to pay annual dividends of 28 yen per share, including interim dividends of 14 yen per share and year-end dividends of 14 yen per share.

The Company will continue to focus on increasing sales, improving production efficiency, and reducing costs. It will strive to offer new products and services that match customer needs and actively tackle environmental and social issues and other sustainability initiatives. Moreover, as part of our efforts to further strengthen our corporate governance framework, we are pursuing measures such as the establishment in January 2021 of Nomination Committee and Compensation Committee, which are voluntary advisory bodies to the Board of Directors.

We respectfully ask for the continued support and encouragement of our shareholders.

June 2021
Takao Nishijima
Representative Director and CEO

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