Message Message From the President Regarding the results for the first half of the year ending March 31, 2012, net sales decreased compared to the same term of the previous year due to impact on our main-stay business line of automotive lighting equipment by the drop of Japanese vehicle production both in Japan and overseas following the Great East Japan Earthquake. In terms of profit, despite rationalization efforts by all companies of KOITO GROUP such as raising product quality, curbing equipment investment, and various costs cutting measures, the operating income, recurring profit, and net income all declined compared to the same term of the previous year, due to the decreased net sales and other factors. Under the unstable economic situation in Japan and overseas due to the financial crisis in Europe with negative impact of fluctuation of stock prices and currency exchange rates on corporate revenues, and uncertain employment situation, as well as the natural disaster of the floods in Thailand, our business environment remains harsh and unpredictable. Under these circumstances, in addition to strengthening activities to win orders, increasing productivity, and mutual supply and complementing, we will continue to enhance our business by reinforcing our revenue structure through ongoing improvements and appropriate measures to meet with growing markets. The KOITO GROUP produces automotive lighting equipment in Japan and nine other countries covering the four major regions of the world (Japan, North America, Europe, and Asia), thus serving customers all around the world as a global supplier. Being committed to satisfying our customers, we are making a concerted effort to strengthen the GROUP’s ability by focusing on Development, Quality, Cost, Delivery, and Speed (DQCDS), to develop and provide safe and environment-friendly products. KOITO, with our corporate message “Lighting for Your Safety”, will continue to contribute to a safer, better society by developing not only automotive lighting equipment, but also all other transport equipment and system, such as aerospace and shipping.     To remain the leading company in the automotive lighting equipment industry in the 21st century, we will continue to deliver the newest and best technologies, improve the performance and quality of our products, cultivate our employees, and always: “Adopt the perspective of customers to supply products and services that meet their expectations.” We sincerely appreciate your continued understanding and support. October 2011 President