Message from the President

Michiaki Kato I would like to express my sincere appreciation for your continued support.
 In addition, I would like to express my deepest condolences to those affected by the Novel Coronavirus (COVID-19), and truly hope for this pandemic will soon come to an end.
 Putting the highest priority on the safety of customers, business partners, employees and their families, the KOITO Group is implementing various measures based on requests from the government and local governments for the purpose of preventing the spread of the COVID-19 pandemic.

Regarding our financial results of 1st half of fiscal 2022, the year ended March 31, 2022, the KOITO Group’s net sales increased year on year due to the new orders in automotive lighting equipment segment increased mainly in north America and Asia, and an increase in the automobile production volume.
 On the earnings front, due to increased income, operating income, recurring profit and profit attributable to owners of parents increased year on year.

The KOITO’s business forecast for fiscal 2022, although there is a projection that automobile production volume will recover from the current trend of decreasing, there are predictions that the constraints in the supply and demand of semiconductors and the stagnation of the supply chains can be prolonged. Under these circumstances, net sales are expected to be the same level as last year due to an expectation to increase in new orders.
 With regards to profits, although we have been promoting improvements and rationalization in domestic and overseas continuously, each profit including the operating income, recurring profit and profit attributable to owners of parent are expected to decrease year on year due to a rise in material prices, increase in the fixed costs accompanying the fluctuation in production and investment in R&D for the future.

Aiming to achieve our mid- to long-term sales expansion of the automotive lighting equipment, the KOITO Group is pursuing to reinforce its production capacity in the five major regions of the world (Japan, Americas, Europe, China and Asia).
 With regards to dealing with mobility changes such as connected, autonomous, shared and electric, the KOITO Group strive to enhance the development of new technology and products that anticipate market and customer needs such as LED headlamps, ADB (Adaptive Driving Beam) and sensors.

Furthermore, the KOITO Group will contribute to building sustainable society (SDGs) through various efforts such as prevention of global warming, and will reinforce its ESG (environment, social and governance) activities.

As a leading automotive lighting equipment manufacturer, we will continue to develop the latest and best technologies, improve the performance and quality of our products, promote training for employees to improve 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 continued understanding and support.
Oct. 2021
President
Michiaki Kato