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To Our Shareholders

On behalf of OHIZUMI MFG., I offer my heartfelt appreciation for the continued support of our shareholders.
We would like to express my condolences to those who died in COVIC-19 and express my deepest sympathy to all of you who are still sick.
We would also like to express my sincere gratitude to the government and medical professionals who are struggling day and night to prevent the spread of the infection.



During the company’s 106th fiscal year (from April 1, 2019 to March 31, 2020), the business environment was severely affected by the slow movement of the Chinese market and the spread of COVID-19 infection.

Under such a business environment, the Group has been pursuing activities based on its medium-term business plan to restore the business environment and grow in the future.

In the electrification area of automobiles, we built a line for ordered rechargeable batteries and started deliveries. In addition, we have also received new orders for the rechargeable batteries to be manufactured after the next fiscal year.

In the Air Conditioning business, we expanded sales of VE products with reduced costs, acquired new projects mainly in Southeast Asia, and expanded our market share globally.

In the Element business we focused on developing new business partners in anticipation of demand for optical transceivers, which are expected to increase due to the spread of 5G. As a consequence, sales in the optical communications sector grew, and the results of our efforts to achieve future growth were shown even in the face of severe business environments.

(VE: Value Engineering stands for cost reduction without degrading the functionality of the product.)

The business environment is uncertain, with the impact of COVID-19 continuing into the 107th fiscal year (from April 1,2020 to March 31,2021). However, while continuing our efforts without changing our medium-term business plan, we will continue to focus on maintaining employment of employees and further strengthening cost management.


In addition, we have changed our management structure with a view on recovery and further growth after COVID-19 completely contained.Going
forward, we will work on measures with the full strength
of all of the Group's bases in order to promote a business
centered on technology and achieve medium- to long-term
sustainable growth.

We would like to pay a year-end dividend of 8 yen per
share, the same amount as the previous year, as originally planned.

We would like to ask our shareholders for their continued support of the Group.

June 2020
President
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