Ikusuke Shimizu
CEO, President & Director

Thank you very much for taking the time to join us today despite your busy schedule. My name is Shimizu, and I assumed the position of President and CEO in March this year. Let me express my sincere appreciation for your continued support. On Page 1, I will begin by outlining today's main points, focusing in particular on the messages we would like to emphasize. First, the results for FY 2025. In FY '25, net sales increased by JPY 11.5 billion, reaching JPY 1,309.3 billion. Operating profit was significantly impacted by weak market conditions, both in Japan and overseas, resulting in JPY 106.5 billion. However, we continued our efforts to shift toward high value-added products and made steady progress. Ordinary profit increased to JPY 117.2 billion, supported largely by FX gains and net profit was JPY 75.2 billion, primarily due to impairment losses. ROE marked 9.1%. Regarding our Perovskite

Solar Cell business, which I will explain in more detail later, preparations for future growth are progressing steadily. For FY 2026, we are projecting growth for both net sales and operating profit. While the market environment remains challenging, we set the OP target at JPY 115 billion, striving to achieve this goal 1 year behind the original timeline in the midterm plan. We will continue to shift toward high value-added products and accelerate growth.