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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.

When it comes to semiconductor measurement and testing technology, we continue to invest in R&D so that we can stay ahead of the technological curve. Of all our probe cards, those destined for memory devices have performed particularly well. They have earned appreciation and trust from our clients, and that is because we have developed the technological prowess to satisfy clients’ needs, along with an effective system to deliver the products.

We have decided to invest heavily in efforts to boost our capacity to produce probe cards in anticipation of rising demand for semiconductors. Another priority is to develop probe cards for non-memory (logic) devices. We are therefore developing MEMS probe cards and working to build their reputation among our existing clientele to enlarge the market share.

Meanwhile, we are accelerating the development of new testing equipment, focusing on testers for semiconductor equipment. We will also build a system for marketing these new products, with a view to making testing equipment a stable revenue stream.

2022 brought mixed fortunes for the semiconductor market. Prices for memory devices such as DRAM and NAND slumped in the second half amid a downturn in sales of PCs, smartphones, and other consumer electronics. Forced to clear their stocks, memory chip makers scaled back production and capital spending. Similarly, logic chip production decreased, especially among mature process nodes, amid a slump in final demand. By contrast, for automotive and industrial chips, demand continued to outstrip supply in some cases.

Against this backdrop, our performance in the consolidated fiscal year ended December 31, 2022, was as follows. Despite the slump in memory and logic, our sales reached an all-time high, with probe cards selling particularly well among memory chip makers. We attribute this success to our determined efforts to meet customers’ needs. Operating income hit a record too thanks to our success in keeping production lean. 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 44,321 million yen, operating income was 9,225 million yen, ordinary income was 10,423 million yen, and net income attributable to owner of parent was 7,530 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 2023

Masayoshi Hasegawa
President & CEO

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