TO OUR SHAREHOLDERSDear Shareholders: During the scal year ended September 30, 2015 (from Oct. 1, 2014 through Sep. 30, 2015), Japan’s economy as a whole maintained a gradual recovery as the corporate earnings picture brightened and personal consumption remained brisk. Nevertheless, concerns about the future direction of the economy increased, driven by factors such as a heightened sense of uncertainty that was inuenced by the economic slowdown in newly developing countries towards the end of the scal year.Given these circumstances, our Group pursued research and development by utilizing the proprietary photonics technologies we have cultivated over many years, and strove to expand net sales and earnings by undertaking aggressive sales and marketing activities, continuing to develop high-value added products that address customers’ need and maintained a high level of capital investment for enhancing the production capacity.In addition to steady domestic sales growth, overseas sales significantly gained as well, due mainly to the favorable exchange rate. As a result, we closed the scal year ended September 30, 2015 with net sales of JPY 120,691 million, up by JPY 8,598 million (7.7%) and operating income of JPY 23,596 million, up by JPY 1,930 million (8.9%) over one year ago respectively. Net income was JPY 16,598 million, up by JPY 1,442 million (9.5%) from the previous year.4



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