To Our Shareholders and Investors

I would like to express sincere appreciation to all of our shareholders and investors for their continued support.

During fiscal year ended March 2010, the worst period of the global recession appears to be over and we observes some signs of recovery. However, the economic conditions remained uncertain given the worsening employment situation and deflation caused by the demand-supply gaps, which have negative impact on corporate earnings.
Under these challenging circumstances, orders received and net sales on consolidated basis decreased significantly because of the continued curving of capital investment by excess capacities as well as the price of each order decreased significantly.
However, as a result of emergency measures such as reviewing fixed costs and reorganizing our business structure to enhance cost-competitiveness, Hirata posted consolidated net sales of 33,547 million yen, a decrease of 32.5% from the previous year, and posted ordinary income of 215 million yen, declared losses in the previous year.

As for dividends, considering the above-mentioned tough business environment, dividends will be remained 10 yen per share and we appreciate your understanding.

Although the fear of double-dip recession has been fading and part of business environment has been improved currently, the economy has not attained the full-scale recovery. During this fiscal year which is our second year of our current Medium-Term Business Plan" Next Plan", we will pursue the following measures so that we can prepare ourselves for the further growth when the economy get back on a recovery track.

Firstly, we will continue and speed-up a total reduction of subcontracting cost and purchase cost, and conduct timely personal management. We will pursue low-cost design by reviewing our cost structure from the earliest, "drawing" stage of the project. Also, cost estimate shall be more precise than ever by enhancing our project management.
Secondly, we will develop closer relationship between business divisions of Hirata Japan and overseas subsidiaries in order to virtually integrate our domestic and overseas operation, and provide our state-of-the-art supports to our customers globally on "One-Hirata" basis.
Thirdly, we will continue to accelerate developing new products and enhance our sales activity to increase our sales in solar cell business sector which we envisage further growth.

Hirata will disclose information that may need for making investment decisions appropriately and timely, accept with sincerity opinions of shareholders and investors, and strive to improve long-term corporate value. I look forward to the continued support of our stakeholders.

 

Disclosure Policy

1. Disclosure Standard

At Hirata Corporation, in conformity with the laws related to the Financial Instruments and Exchange Act and the Rules on Timely Disclosure of Corporate Information set forth by the JASDAQ Securities Exchange (hereinafter referred to as "Rules on Timely Disclosure"), discloses not only material information in a timely but also other material corporate information positively in order to maintain a sound investment environment.

2. Disclosure Method

Any information that falls under the Rules on Timely Disclosure is disclosed with TD net provided by the JASDAQ Securities Exchange, and also such information is placed on the Company's website as soon as possible. Furthermore, Hirata will make every effort to accurately and fairy disclose to shareholders and investors information that is not covered by the Rules on Timely Disclosure.

3. Quiet Period

In order to prevent leakage of earnings information and maintain impartiality, Hirata fixed a "Quiet Period" for one month before earnings results are announced. During this period, Hirata refrains from answering questions or making comments regarding earnings. However, if it becomes likely that results will vary greatly from forecasts during Quiet Period, appropriate announcement will be made in accordance with disclosure regulations.

4. Disclaimer

IR information placed on this website is not built for the purpose of soliciting to buy or sell shares of the Company. Also, information geared toward stockholders and investors is intend for the purpose of offering our finance and management, however, the Company offers no grantees regarding the contents. Decisions relating to investment including decisions on whether to buy or sell shares in the Company should be made by investors' own judgments after careful examination of the Financial Statements and other financial documents of the Company. Hirata assumes no responsibility whatsoever for any damages or losses resulting from inaccuracies in the information on this website.