Dear shareholders, investors and stakeholders

To our shareholders, investors, and stakeholders, we would like to express our gratitude to you for your continued support of ELL.

In fiscal 2021, a new coronavirus (COVID-19) variant spread throughout the world, causing unprecedented damage to the global economy. The spread of the infection has slowed down in areas where vaccination programs have progressed, and economic activities are slowly starting to resume. However, many areas are still restricting economic activities to prevent the spread of the infection, and some areas are still experiencing reemergence of the infection. The spread of the new corona variant is still not under control, and the future remains uncertain.

The Company has placed the highest priority on ensuring the safety of our employees and their families, our customers, and other internal and external stakeholders, and on preventing the spread of the infection, and as a result, there has been no major disruption to our business activities. We will continue with these efforts further.

Although the business environment remains severe due to ongoing sales competition, our Company is working on building a new business model to “Create new value”. By keeping an eye on the changing demands of our customers and further accelerating our efforts, we will strive to maximize the value we provide to our shareholders, customers, employees, and society, as well as grow our earnings.

ELL was established in 2009, and 13 years have passed since then. We have achieved success today thanks to the relationship that we have built with many stakeholders and shareholders, while accumulating many different experiences as a business enterprise. Last, but not least, we thank you deeply once again, and we very much appreciate your lasting support and expectations about our business success.