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 the Mitsubishi Kakoki Group's Management Vision for 2050 formulated in 2021, we set our consolidated sales target to 100 billion yen, which is almost double our current level, to be achieved by 2035, the year in which we will celebrate our 100th anniversary. We also set the goal of earning half of this 100 billion yen target 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. Please see our Medium-Term Management Plan for detailed targets and information regarding specific initiatives related to the four Key Points.

In terms of the progress of our Medium-Term Management Plan, in the consolidated Financial results for the six months ended September 30, 2025, we were more or less able to achieve our main financial targets. We also made an upward revision of sales figures and the like in all our business segments from the initial projections for the annual performance of FY 2025, as well as announcing plans to raise our annual dividend.

Thanks to the positive reception and expectations of our Medium-Term Management Plan and its progress by the market, our share price has significantly risen since the announcement of the plan in May, backed by favorable stock market conditions (as of November 2025). As I outlined above, I am happy to share my view that our Medium-Term Management Plan has launched successfully.

On the topic of dialogue with our investors, we exhibited at the Nikkei-JPX IR Fair 2025 for the first time in 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.

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.

November 2025