We are pleased to report our results for the first half of the fiscal year ending March 31, 2024.

In the first half of the fiscal year under review, the Group posted revenue of ¥40,294 million (down 16.0% year on year), operating profit of ¥5,941 million (down 31.0%) and profit attributable to owners of parent of ¥2,191 million (down 48.7%), mainly reflecting an overall adjustment phase that included the Chinese market, despite the unchanged profit structure.

While continuing to work on expanding sales, improving production efficiency and reducing costs, the Group seeks to offer new products that fully meet customer requirements and enhance the services it provides. Through these efforts, it will consistently aim to raise customer satisfaction and work hard to maintain management structures trusted by customers.

The Company decided to pay an interim dividend for the consolidated fiscal year ending March 31, 2024 of 24 yen per share, an increase of 2 yen from a year ago as initially planned.The Company plans to pay a
year-end dividend of 24 yen per share (which combined with the interim dividend brings the annual dividend to 48 yen).

We respectfully ask for the continued support and encouragement of our shareholders.

November 2023
TSUGAMI CORPORATION