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To Our Shareholders and Investors

We are aiming to ensure stable shareholder returns and to increase our corporate value through further growth.

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

In August 2023, we unveiled our Medium-Term Business Plan: FV26, which is scheduled to end in fiscal 2026. FV26 is short for Future Vision 26. We will make it a period of medium-term growth aligned with our long-term strategy, MJC Future Vision.

We have already taken a number of actions. In fiscal 2023, we drew from a large capital expenditure budget to complete MEK’s new factory in South Korea and start construction of a new section of the Aomori factory. These investments are boosting our capacity to produce our mainstay product, probe cards for testing memory devices. In this way, we are further strengthening our position in the probe card market, which is set to continue growing.
We have also invested in R&D to release new products. In the category of probe cards for non-memory (or logic) devices, we released a new type of MEMS: MEMS-V.
In the test equipment business, we released a new semiconductor tester. We showcased our manual probers at SEMICON Japan 2023. By promoting these new releases, we will address the need to stabilize revenue from our non-memory probe cards and test equipment businesses.

The semiconductor market in 2023 was as follows. Demand for home-use PCs, smartphones, and other consumer electronics remained low as it had done in the second half of 2022. On top of this, demand fell for automotive semiconductors and semiconductors for industrial machinery amid overstocking. In response to the low demand, chipmakers cut back production and capital expenditure, resulting in a general slowdown in the semiconductor market.

Against this backdrop, our performance was as follows. Amid the slowdown in the semiconductor industry, our probe card business underwent a short-term adjustment during the first half. In the second half, however, sales to DRAM makers recovered significantly following a surge in demand for High Bandwidth Memory (HBM), a high-performance memory interface that is essential for AI servers.
The consolidated results for the period ended December 2023 were as follows: 38,292 million yen in net sales, 5,312 million yen in operating profit, 5,675 million yen in ordinary profit, and 4,127 million yen in profit attributable to owners of parent.

Based on our mission of "Contribute widely to society with electronic measurement technology," our group will continue to contribute to society by stably delivering highly reliable semiconductor test equipment.

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

April 2024

Masayoshi Hasegawa
President & CEO

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