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To Shareholders

We strive to select and concentrate our business resources on the market of photovoltaic manufacturing equipment while making the most of our experience and know-how accumulated in the vacuum packaging business.

We greatly appreciate your understanding and support for the Group.
We are pleased to inform you that the Company went public on the Mothers of the Tokyo Stock Exchange on June 29 this year.
We will aim to become a corporation highly valued by the market as a listed company, and do our utmost in business, with all directors and employees working as a united body, to meet the expectations of our shareholders.
For the consolidated fiscal year under review, we posted increased sales and profits thanks to robust sales of full-scale module manufacturing line and composite devices in the core business of photovoltaic manufacturing equipment. Net sales soared 56.4% from a year earlier to 6,554 million yen, with ordinary income of 791 million yen, up 33.3% year-on-year, and net income of 467 million yen, up 33.3%.
Demand for photovoltaic cells, a typical example of clean energy, is expanding rapidly as people's awareness of environmental protection and conservation is growing. For further growth, the Group plans to expand its market share in the photovoltaic module market by concentrating its management resources on "enhancing research and development," "reinforcing output capacity at the Matsuyama factory" and "strengthening the worldwide 24-hour support structure" to bolster our expertise.
To grow into a corporation recognized by society, we will also push forward with the establishment of a lateral internal control system, aimed at developing a corporate code of conduct, compliance and a risk management system and at promoting efficient management.
We would like to ask for your further understanding and support for the business of the Group.

November 2007

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