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Updated 6/23/2017
Message to shareholders and investors
Motonobu Furuya, President & CEO
We will pursue record-high sales by firmly capturing a recovery trend in the next term.

In the cumulative period ended March 2017 (from April 1, 2016 to March 31, 2017; hereinafter referred to as the "current term"), we recorded decline in both sales and profits for the full year, even though we achieved recovery in profitability in three Businesses throughout the second half of the year.

Now that the automobile industry enters a phase of major change, we are faced with a tough situation to predict the future as change in the business environment is striking. However, we will pursue steady growth by advancing precision forging technology, which is strength of the Company, and by promoting global strategy, under the concept of management philosophy of "Maximum Realization of 3S and Lasting Improvement"

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