Message from the President

Hiroshi Mihara  Regarding the results for the first half of the fiscal year ending March 31, 2018, the KOITO Group’s net sales increased over the previous fiscal year due to increase in new orders and a shift in automobile lamps to LED.
As for profits, operating income, recurring profit, and net income all increased as a result of the sales growth and rationalization effect in Japan and overseas.

 Regarding the outlook for the fiscal year ending March 31, 2018, despite the expansion of new orders and the market transition to LED automobile lamps in Japan and overseas, net sales are expected to decrease. This is attributable to the Shanghai Koito’s status change from consolidated company to a company accounted for by the equity-method from September 28, 2017.
As well as on the net sales, Shanghai Koito’s non-consolidation also has negative effect on the earnings front. However, operating income and recurring profit are expected to increase compared to the previous fiscal year due to the rationalization effect in Japan and overseas. Net income is also expected to rise due to the extraordinary income from the transfer of shares in Shanghai Koito.

 For the purpose of sales expansion of automotive lighting equipment in the mid- and long-term perspective, the KOITO Group is pursuing to reinforce its production capacity and strengthen its development capability around the five major regions of the world (Japan, North America, Europe, China, and Asia).
 With a view to expanding market share, the KOITO Group will continue to strive to win orders, expand its production capacity, enhance productivity, reinforce its mutually complementary supply network, and establish business systems that can quickly respond to changes in the market, and promote compliance and corporate governance to establish an even more reliable corporation.

 The KOITO Group, with our corporate message “Lighting for Your Safety”, strives to develop our mainstay automotive lighting equipment in order to contribute to society.
 As a leading automotive lighting equipment manufacturer, we will continue to develop the newest and the best technologies, improve the performance and quality of our products, promote training for employees to raise their performance and skills, as well as staying true to our basic stance to adopt the perspective of customers to supply products and services that meet their expectations.
 We would greatly appreciate your continuous understanding and support.
October 2017
Hiroshi Mihara