TO OUR SHAREHOLDERSDear Shareholders: During the fiscal year ended September 30, 2017 (from October 1, 2016 through September 30, 2017), Japan’s economy generally maintained its recovery trajectory, despite concerns that included the political instability in Europe and the United States and elevated geopolitical risks in East Asia, as movement toward a recovery in exports was evident, and capital investment also exhibited modest growth as corporate earnings improved.Given these circumstances, our Group strove to expand net sales and earnings by further improving the proprietary photonics technologies we have cultivated over many years, and continuing to make capital investments aimed at boosting production capacity and enhancing product development capabilities.As a result, we closed the scal year 2017 with net sales of JPY 130,495 million, up by JPY 8,643 million (7.1%), thanks to higher domestic sales and overseas sales. From an earnings perspective as well, operating income was JPY 22,849 million, up by JPY 2,305 million (11.2%) from the previous year and prot attributable to owners of parent was JPY 17,777 million, up by JPY 3,357 million (23.3%) from the previous year.4


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