Akira HirumaPresident and CEODecember 18, 2015With regard to the business environment surrounding our Group, we recognize that over the near term the economy will labor under strict circumstances, including an opaque situation in Europe and an economic slowdown in newly developing countries.Given such circumstances, the Hamamatsu Photonics Group recognizes that “photonics”, which the Group has pursued since its establishment, now forms a fundamental technology supporting various industries, and that the unending evolution of photonics technology will be sought on a global scale to further enhance today’s technological innovations and the performance and accuracy of electronic equipment.To respond exibly and rapidly to this growth in the photonics industry and to changes in the business environment, the Hamamatsu Photonics Group will seek to create a sustainable, stable and strong earnings organization, by undertaking proactive research and development investment and capital investments for growth based on the Group’s medium and long-term vision.As a Group, we will expand our business domain by seeking to create new industries and contribute to society, and work to solidify our decisive position as a leading global company in photonics technologies, by never forgetting our venture mentality and continuing to develop in the years ahead as well the photonics technologies we have cultivated since the Company was established.We look forward to continuing to receive your unwavering support and encouragement in the future.Sincerely, 5Annual Report 2015



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