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To Our Stakeholders and investors

Nobuo Takenaka President and CEO Misawa Homes Co., LTD.

Nobuo Takenaka

On behalf of Misawa Homes, I offer our deepest appreciation for the continued support of our shareholders.
On October 1, 2017, we here at Misawa Homes celebrated the 50th anniversary of the founding of the company. I would like to express my gratitude for the shareholders' continued support. This year was a critical turning point in which I assumed the office of President and CEO, on June 29, as the successor to the previous President Nobuo Takenaka (current Chairman). In the last five months, with the end of the first half of the fiscal year ended March 31, 2018, I have once again felt the weight of the responsibility upon my shoulders. Nonetheless, I will devote myself to meeting everyone's expectations and hope to receive continued guidance and encouragement, as was the case for the previous President.
Among the things that have supported Misawa Homes for fifty years are unique ideas such as the "Wooden panel adhesion system" and advanced technology and product development that aim to be the first in the industry, in Japan and in the world. Behind these ideas and products is a pervasive pioneering spirit, exemplified by our intent to be a constantly innovating corporation, and a strong desire to make prosperous lifestyles a reality by providing homes. I believe that the corporate DNA that has brought forth such innovation must remain unchanged and continue to be passed down in the future. Going forward, the world is going to see changes to the societal structure including an accelerating decline in population caused by the falling birthrate and aging population. We can also expect lifestyles to change significantly with the introduction of technologies such as AI (artificial intelligence) and IoT. Even in such a future, Misawa Homes will not lose its pioneering spirit and will continue to evolve and adapt to the changing times so as to preserve its core values and ideas. Furthermore, surpassing what the society expects of a housing construction company, we will aim to be a corporation that creates lifestyles and can offer not only new products but also new businesses and services. This fiscal year we took the first step toward the next 50 years with the start of the new medium-term management plan "First Step For NEXT 50." The Group will aim for consolidated net sales of ¥445.0 billion in fiscal 2020 by carrying out the three years of initiatives outlined in this plan. In regard to the financial results for the first half of the first fiscal year of this plan, income decreased and profits increased. The improved financial performance was the result of ordinary profit exceeding ordinary profit in the same period of the previous fiscal year following ongoing cost improvements, etc., despite net sales falling below net sales in the same period of the previous fiscal year. In the second half, we will implement various projects such as a commemorative event and campaign tied to the 50th anniversary of the founding of the Company. The Group intends for the first year of the plan to become a foothold for dramatic growth and will strengthen its initiatives to accomplish the goals set in the plan.
In closing, I would like to request our shareholders' ongoing understanding and support.

December 2017

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