To Our Shareholders and Investors

To our Shareholders and Investors, Let me begin by thanking you for your continued loyalty.

Our long-term vision, "MJC Future Vision", commits us to boosting competitiveness in terms of quality and delivery by enhancing our QDCCSS (quality, delivery, cost, compliance, service, safety), with the ultimate aim of achieving further technological advancement and contributing to a more prosperous society.

Underpinned by high-precision, high-density contact technology, our probe cards have the top share in the global memory market, and clients praise their performance. However, we are far from complacent. The semiconductor market is changing rapidly, and we can only prevail in this market if we safeguard our technological edge. Accordingly, we have continued investing aggressively in R&D. We are also keeping in close contact with the chipmakers we serve so that we can understand their requirements and then deliver the desired probe cards as soon as possible, thereby maintaining both the competitiveness and market share of our products. Our goal for probe cards is to maintain our share in memory market and expand our share in the non-memory (logic) market, which has proved tougher by comparison.

As for testing equipment, we will concentrate R&D resources on efforts to develop new testers for semiconductor equipment. We ultimately want to develop testing equipment into a stable revenue stream.

The semiconductor market as a whole grew significantly in 2021, becoming 26.2% larger than it was in the previous year. We benefitted in particular from brisk output among the DRAM and NAND flash memory makers we serve. Demand for memory was buoyed by the growing range of applications for semiconductors amid digitalization. It was further buoyed by additional investment in data centers to accommodate increased data traffic.

Against that backdrop, we recorded strong results for the consolidated fiscal year ended December 31, 2021. Particularly pleasing were sales of probe cards in the memory market. Profits were strong too, thanks to a high level of orders coupled with efficient production. These results vindicate our strategy of constantly enhancing our QDCCSS, particularly competitiveness in quality and delivery, as part of MJC Future Vision.

The specific results for said period were as follows: Net sales was 39,998 million yen, operating income was 8,243 million yen, ordinary income was 8,688 million yen, and net income attributable to owner of parent was 8,237 million yen.

We will continue to work toward our key strategic goals for "MJC Future Vision".

Let me thank you once again for your support, and I look forward to updating you on our progress.

March 2022
Masayoshi Hasegawa
Masayoshi Hasegawa
President & CEO

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