Message from the President

Dear Shareholders and Investors,

I would like to take this opportunity to express my sincere appreciation to all our shareholders and investors for your ongoing exceptional support.

In November 2021, we formulated the "Mitsubishi Kakoki Group 2050 Management Vision" (hereinafter referred to as the "Management Vision") to help resolve various kinds of issues in society. Aiming to be realized by 2050, the Management Vision highlights the goals of what Mitsubishi Kakoki Group would aim for and forms the core of our management strategy. We aim to achieve the Management Vision by pursuing sustainable development, strengthening our existing technologies and products, expanding into new fields, and helping to make society a better place.

At the time of formulating this Management Vision, as a milestone toward our ultimate goal of 2050, we set an aspiration such as nearly doubling our consolidated sales to 100 billion yen by fiscal year 2035, the 100th anniversary of our founding, with half of that coming from new business areas.

Our current Medium-Term Management Plan (from FY 2025 to FY 2027), announced in May 2025, is positioned as "3 years for a leap forward" to aim the achievement of our management vision. We set up a new reportable segment called "GX business" that covers the four "strategic business areas" outlined as social issues that we will aim to resolve by 2050 in our Management Vision, clarifying that this segment will serve as our medium- to long-term growth driver.

In our current Medium-Term Management Plan, we have also set four key points: (1) Evolution of our business portfolio, (2) Establishment of management conscious of cost of capital and stock prices, (3) Stronger human and technical capital, and (4) Improved transparency of corporate governance. As for numerical targets, we aim to achieve sales of 90 billion yen including 23 billion yen from GX business in FY 2027, the final year of the Medium-Term Management Plan, operating profit ratio of 9% or higher, ROE of 12% or higher and PBR of above 1. In fiscal year 2025, the first year of this Management Vision, we largely achieved our goals. For further details, please refer to our Medium-Term Management Plan, various disclosure documents, financial results briefing materials and others.

Under these circumstances, in order to accurately maintain our message regarding our long-term growth outlook, in May 2026, approximately five years after formulating our Management Vision, we brought forward the target year for achieving 100 billion yen in sales forward by six years to 2029. At the same time, we revised upward our target level for fiscal year 2035 to 120-140 billion yen.

On the topic of dialogue with our investors, we exhibited at the Nikkei-JPX IR Fair 2025 for the first time last September and strived to enable individual investors to gain a broader and deeper understanding of our business. We were grateful to have an opportunity to talk with many individual investors, to hear their views and expectations of our company, and ultimately get all kinds of insights for further enhancing our future investor relations activities.

Regarding dialogue with institutional investors and shareholders both domestically and internationally, we have been working to fundamentally strengthen it since last year, in line with the policy framework of our current Medium-Term Management Plan, and we have received many valuable opinions and feedback on our business strategy and information disclosure practices. We are using them to consider further improvements to our future business strategy, capital strategy and information disclosure.

We will continue to focus communication with our shareholders and investors aiming to increase our corporate value, ultimately to bring our Management Vision to fruition and achieve our current Medium-Term Management Plan.

Please look forward to the future of the Mitsubishi Kakoki Group.

May 2026