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 April 2024, we announced our Medium-Term Management Plan for fiscal 2024 to 2026, with the theme of "Create the Future," aiming to create a MAX with high corporate value by improving business profitability and return on capital.

In fiscal 2024, the first year of the plan, net sales reached 91.8 billion yen, operating profit was 14.4 billion yen, ordinary profit was 14.8 billion yen, and net profit was 11.2 billion yen, all of which were record highs. ROE, which indicates return on equity, was 10.9%.
In addition to growth in the rebar tying tool business, mainly in Europe and the United States, the yen depreciation contributed to the business performance for the current fiscal year. We also implemented a secondary offering of shares aimed at diversifying the shareholder composition and improving the liquidity of our shares, and implemented a capital policy focused on improving capital efficiency, including the acquisition of own shares. Furthermore, we promoted human rights due diligence initiatives and worked to reduce human rights risks throughout our supply chain.

In fiscal 2025, the second year of our Medium-Term Management Plan, we are forecasting net sales of ¥94.1 billion, operating profit of ¥14.7 billion, and an operating profit margin of 15.6%. The Industrial Equipment segment will continue to expand its business mainly in the rebar tying tool business in Japan and overseas. The Office Equipment segment will maintain and improve profitability by expanding its labeling and signage products and overseas business. The HCR Equipment segment will focus on improving profitability and achieving stable profitability through expansion of its overseas business.
In addition, we will continue to make aggressive investments aimed at commercializing new businesses and achieving sustainable growth in order to achieve the goals of our Medium-Term Management Plan.

We ask for the continued support of our shareholders.