25 December 2020

Our Appreciation for Your Support This Year

Time flies really fast, and there are only a few days left in the year. This year saw the novel coronavirus spread severely worldwide, leading to restrictions not only on business activities but also on social activities in general. This rapidly put the world into an economic recession, described as the worst ever since the Great Depression, and there has been no recovery from the situation yet. It has been a crisis of historical magnitude.

This trend caused us to record deficits for the first half of the fiscal year for the first time since the impact on the global economy by the bankruptcy of Lehman Brothers. However, partly due to the rapid recovery of the automotive segment and the strong performance of the infocommunications segment, we were able to meet our initial business forecast, and have announced an upward revision to our full-year business forecast. We would like to express our sincere appreciation once again to all of you for the tremendous support and cooperation we have received.

Although the coronavirus pandemic has not subsided yet, we would like to take 2021 as an opportunity for change. We will further proceed with the efforts that we made this year to reinforce our corporate structure, such as those aimed at enhancing our operational efficiency and improving our cost structure, and regain our profitability toward VISION 2022, thereby winning the trust of stakeholders.

I wish you a very happy New year.

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