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To Our Shareholders

Yuichi Shino
CEO
Yuich Shino

To Our Shareholders,

Firstly, let me thank you for your continued and unstinting support of Hirakawa Hewtech Corp.

In the electronics market, which is our primary source of business, the car electronics sector is seeing a return to strength, but in contrast, demand for information and communications devices is weakening.

Under these business conditions, we are working hard to fulfill our 76th fiscal year policy goal of anticipating change and implementing self reforms. By doing this, we will be able to keep abreast of generational changes and ensure that all our employees conduct activities to implement process reforms based on the principle of Sangen Shugi (the three "actuals": the actual place, the actual object, and the actual situation). This will in turn enable us to create new and innovative products that meet the needs of the times.

In spite of these efforts, however, and due in part to the impact of an increasingly strong yen, the our total sales in the consolidated cumulative second quarter of the fiscal year decreased 13.1% compared to the same period last year, falling to 12.124 billion yen. Nevertheless, improved productivity, lower raw materials costs, and other factors have served to raise our operating profit to 1.455 billion yen (a 36.0% increase over the same period last year), and our ordinary profit to 1.432 billion yen (a 33.3% increase over the same period last year). The quarterly net income attributable to the owners of the parent was 1.121 billion yen (a 57.0% increase over the same period last year).

The interim dividend for this quarter has been set at 6 yen per share.

All members of the board and employees of Hirakawa Hewtech pledge to work together to achieve our policy goals and prove ourselves worthy of the continued support and trust of you, our valued shareholders.

December 2016