MAX believes that by respecting people, the development of people will result in growth for the company. And to realize the MAX Company Creed, we have adopted the MAX Fundamental Management Policy of "We aim to become a group in which everyone can grow together by creating a lively and fun atmosphere."

By ensuring that each and every one of our executives and employees correctly understands and practices the MAX Company Creed, and by solving social issues through our business activities, we will work together with our shareholders, customers, and other stakeholders to increase our corporate value.

In fiscal year 2023, we achieved a record high of 86.6 billion yen in net sales, 12.6 billion yen in operating income, 13.7 billion yen in ordinary income, and 10.4 billion yen in net income. ROE, which indicates return on capital, was 11.1% due to improved business profitability. In addition to growth in the rebar tying machine business against the backdrop of labor shortages and firm market conditions in the non-housing market, the promotion of price revisions and a weaker yen, among other factors, contributed to the Company's performance. In addition, the Company further strengthened its management foundation by abolishing takeover defense measures (strengthening corporate governance), appointing female outside directors (ensuring diversity on the Board of Directors), and introducing a restricted stock compensation plan (sharing value with shareholders).

In April 2024, under the theme of "Creating the Future," the Company announced its new medium-term management plan for fiscal years 2024 through 2026, with the aim of creating a high corporate value max by improving business profitability and capital return.

In fiscal year 2024, the first year of the new medium-term management plan, we plan to achieve net sales of 89.8 billion yen, operating income of 13 billion yen, and operating margin of 14.5%. The Industrial Equipment segment will continue to expand its business centered on the rebar tying machine business in Japan and overseas, the Office Equipment segment will maintain and improve profitability through expansion of character display equipment and overseas business, and the HCR Equipment segment will continue to improve profitability and expand overseas business to achieve a stable turnaround. The HCR Equipment segment will continue to improve profitability and achieve stable profitability through the expansion of overseas business. In addition, the Company plans to aggressively invest in commercialization of new businesses and realization of sustainable growth.

We would like to ask for the continued support of our shareholders.