83rd INTERIMKURODA
ELECTRICREPORT
To Our Shareholders and Investors

83rd INTERIM KURODA ELECTRIC REPORT
April 1, 2017

KURODA ELECTRIC Co., Ltd.

September 30, 2017

Securities code: 7517

TO OUR SHAREHOLDERS

Greeting
I would like to express our sincere gratitude for your continued
support.
Upon the conclusion of the first half of the 8 3rd term (from
April 1, 2 0 1 7 to September 3 0, 2 0 1 7), we hereby report on
our business results.
I would like to take this opportunity to once again extend oursincerest appreciation to our shareholders who are important
stakeholders in the Company for your constant support todate.
On October 3 1, 2 0 1 7, the Company expressed its opinion infavor of the proposal by the MBK Partners Group for the Company to privatize its shares, and passed a resolution at themeeting of the Board of Directors recommending that ourshareholders tender their shares in the tender offer. For details,
please refer to “Execution of a Tender Offer for the Company’s
Share Certificates by the MBK Partners Group” on page 8.

Koichi Hosokawa
President
CEO and COO

Following the completion of a series of transactions, the Company will become a privately owned company. We would liketo offer our sincere thanks for your continued support and patronage.

Consolidated Results for the First Half of the Fiscal Year
During the six months ended September 30, 2017, the Japanese economy remained steady amid continued improvementsin the domestic employment and income environment, despite
uncertainties in the international situation.
The business environment surrounding the Group changed significantly due to a change in business policy of a client company
in the LCD-related business. In order to respond to the changes
in this business environment, the Group is working to improve
our existing business model and to create new business with the

01 KURODA ELECTRIC REPORT

aim of “increasing operating profit by improving operating profit
margin” as our new management policy.
As a result, for the six months ended September 30, 2017, net
sales amounted to ¥73,820 million (a year-on-year decrease of
37.2%), operating profit amounted to ¥2,621 million (a yearon-year decrease of 24.8%), ordinary profit amounted to¥2,623 million (a year-on-year decrease of 22.8%), and profit
attributable to owners of parent amounted to ¥1,615 million (ayear-on-year decrease of 32.2%).

FINANCIAL HIGHLIGHTSNet sales=First half

Operating profit=Full year

350,000

300,000(¥ millions)

250,000

10,000229,571

135,414 139,699

4,000

117,551

4,097

4,242

4,552

7,719

4,306

2,000

0

79th term 80th term 81st term 82nd term 83rd term

=First half

8,000

200

0

79th term 80th term 81st term 82nd term 83rd term

Earnings per share(¥ millions)

4,536
3,400

2,623

2,000

=First half

=Full year

4,353

4,000

2,621

73,820

6,953

6,000

3,488

Profit attributable to owners of parent

186.9379th term 80th term 81st term 82nd term 83rd term

Dividend per share=Full year

(¥)=First half

=Full year

(¥)

100

189.44

95.00

6,765

7,000

80

5,792

150

60

3,871

4,000

3,086

3,067

100

3,091

100.04102.86
87.96

47.00

82.15 *2

40

63.37

2,385

2,000

67.00

128.73

4,844

5,000

42.94

50

1,615

20

1,000

0

9,075

8,000

50,0003,000(¥ millions)

6,000

100,000

6,000=Full year

10,303

8,108
7,088

164,728

0=First half
12,0008,000

200,000

150,000(¥ millions)

8,669

285,605

Ordinary profit=Full year

9,895

10,000326,412287,839=First half

0

79th term 80th term 81st term 82nd term 83rd term

79th term 80th term 81st term 82nd term 83rd term

0

32.00
15.00

36.00

47.00
33.00 *3

16.00

79th term 80th term 81st term 82nd term 83rd term

Full-Year Forecast *1
Net sales¥160,000 million Operating ¥5,700 million(year-on-year decrease of 30.3%)

profit(year-on-year decrease of 19.6%)

Ordinary
profit¥5,600 million¥3,600

Profitmillionattributable toownersofparent(year-on-year decrease of 19.5%)(year-on-year decrease of 25.7%)*1 S hould any revision of the full-year consolidated business forecasts become necessary in light of future trends, an announcement will be made promptly.
*2 The decrease in earnings per share for the first half of the 81st term was due to the increase in the average number of outstanding shares during the period resulting from the exercise of subscription rights to shares.
*3 Concerning the year-end dividends for the 83rd term, the Company decided not to pay dividends, subject to a successful conclusion of the tender offer outlined on page 8 of this report. For details, please refer to the “Notice concerning Revision of Dividend Forecast for the Fiscal Year ending March 2018” (available only in Japanese) issued on October 31, 2017.

KURODA ELECTRIC REPORT 02

CONSOLIDATED FINANCIAL STATEMENTS
Condensed Consolidated Balance Sheets (¥ millions)

Condensed Consolidated Income Statements (¥ millions)

As of September 30, As of March 31,
2017
2017

Account

Six months ended Six months ended
September 30, 2017 September 30, 2016

Account(From April 1, 2017 to
September 30, 2017)(From April 1, 2016 to
September 30, 2016)

Assets

Net sales

73,820117,551

Current assets

63,680106,683

92,20093,380

Cost of sales

Cash and deposits

30,602

29,055Gross profit

10,14010,867

Notes and accounts receivable – trade47,62050,789Selling, general and administrative expenses

7,518

7,379

2,621

3,488

Inventories

11,071

10,844

Operating profit

Other

2,905

2,689

Non-operating income

223

202

221

290

2,623

3,400

Non-current assets

25,512

24,144Non-operating expenses

Total assets

117,712

117,525

Ordinary profit
Extraordinary losses

Liabilities
Current liabilities
Notes and accounts payable – trade

36,79436,70627,55628,652

Profit before income taxes

645

917
2,472

Profit attributable to non-controlling interests

103

87

Profit attributable to owners of parent

1,615

2,385

Profit

4,190

2,899

Short-term loans payable

1,042

894

Other

4,004

4,258

Non-current liabilities

2,993

2,911

Total liabilities

39,78739,61772,39372,584

Account

Capital stock

10,045

10,045

Capital surplus

9,918

9,918

Retained earnings

54,33754,527

Treasury shares(1,907)(1,907)

Accumulated other comprehensive income

2,751

2,654

Non-controlling interests

2,779

2,669

Total net assets

77,925

Total liabilities and net assets

117,712

Shareholders’ equity(Figures are rounded down to the nearest million yen.)

Condensed Consolidated Statements of Cash Flows (¥ millions)
Six months ended Six months ended
September 30, 2017 September 30, 2016
(From April 1, 2017 to
September 30, 2017)(From April 1, 2016 to
September 30, 2016)

Cash flows from operating activities

5,514

14,565

Cash flows from investing activities(1,822)(272)

Cash flows from financing activities(1,939)(483)

Effect of exchange rate change on cash and cash equivalents

(177)

(997)

Net increase (decrease) in cash and cash equivalents

1,575

12,811

77,908Cash and cash equivalents at beginning of period

28,236

16,836

117,525

Cash and cash equivalents at end of period

29,812

29,647(Figures are rounded down to the nearest million yen.)

03 KURODA ELECTRIC REPORT

10
3,390

1,719

Income taxes

Electronically recorded obligations – operating

Net assets

259
2,364

(Figures are rounded down to the nearest million yen.)REVIEW OF OPERATIONS

CategoryLine of business/initiatives
Focus on key accounts

Trading businessS ales of electric materials,
general electronic components
and LCD panels

Operating profit goals(¥ billions)

2.8

Existing businesses

Manufacturing/processing(data storage)

R&D into new technologies
S pecial printing plates and printingpresses for LCD
A utomated machines, special solderC ircuit design, development ofelectronic devices and CAD software(¥ billions)

Scale out to SSD business field(¥ billions)P recision metal pressed parts,
precision molded products, surface treatment

2.0

83rd term

0.9

Manufacturing/processing (others)(¥ billions)

New businessContribution
to operating
profitContribution
to operating
profit83rd term

85th term (target)

Contribution
to operating
profitContribution
to operating
profit83rd term

85th term (target)

Contribution
to operating
profitContribution
to operating
profit85th term (target)

83rd term

85th term (target)

0.7

Contribution
to operating
profitContribution
to operating
profit83rd term

85th term (target)

Contribution
to operating
profitContribution
to operating
profit83rd term

85th term (target)

2.3

85th term (target)

1.0

Ensure stable profits(¥ billions)85th term (target)

1.0

0.5
83rd term

0.6

9%

10%

P
 lastic molded products andprocessed film products
83rd term

Create new demand throughcross-industrial collaboration

Next core business(new business)

85th term (target)

85th term (target)

16%

Improve productivity through capital investment
Aluminum die-casting products
Metal molds and pressed parts
Metal molds for large-size plastic products
Metal-pressed parts and welding-processed products
Plastic molded productsM aterials for electric facilities
and electric power plants

83rd term

30%

35%

83rd term

Manufacturing/processing(automotive)

Contribution
to operating
profit1.7
83rd term

Development/
manufacturing

Contribution
to operating
profitE stablish a new subsidiary in
Vietnam(¥ billions)85th term (target)

1.0

0%

0
83rd term

85th term (target)

32%

26%

11%

11%

9%

11%

KURODA ELECTRIC REPORT 04

WORLDWIDE NETWORKThe global business environment is continuing to undergo
complex and intensifying changes. Customers’ needs havebecome diverse, and we must deal with all such needs inthe areas of development, manufacturing, procurement
and logistics. KURODA ELECTRIC’s global network will flexibly cater to various business models and continue to increase customer satisfaction.

North America
sales bases
KURODA ELECTRIC U.S.A. INC.
KURODA ELECTRIC U.S.A. INC. Tennessee Branch

Net Sales by Region (destination basis)
Japan
Net sales decreased year-on-year due to a significant decrease in orders in the large-size LCD-related business for
TVs and the small- and medium-size LCD-related businessfor smartphones.

KURODA ELECTRIC U.S.A. INC. San Diego Branch
KURODA ELECTRIC U.S.A. INC. Michigan Branch
NANKAI Enviro-Tech Corporation
Kuroda Electric Mexico S.A. de C.V. *1

Europe0%
North
America
3%

Asia
The automotive-related business remained steady. Net
sales decreased year-on-year due to the ceased sales oflarge-size LCD panels, affected by a change in business
policy of a client company.
North America and Europe
Net sales decreased year-on-year due to the ceased ofsales of large-size LCD panels, affected by change in business policy of a client company.

Japan=First half

=Full year

Asia(¥ millions)=First half

Ratio ofNet Salesby Region

Asia
55%

manufacturing/processing
company
NANKAI Mexico, S.A. DE C.V.

Japan
42%

North America=Full year(¥ millions)=First half

=Full year(¥ millions)

Europe=First half

=Full year(¥ millions)

116,749 117,380
129,836

122,823

96,371

91,065

108,851

53,77959,25438,552

46,46338,926 37,327

69,794

77,20065,61038,752

47,83035,41951,42144,093 40,732

21,583

26,177

20,47523,327 23,459
9,469

30,684
2,119

79th term 80th term 81st term 82nd term 83rd term

05 KURODA ELECTRIC REPORT79th term 80th term 81st term 82nd term 83rd term

79th term 80th term 81st term 82nd term 83rd term

20,44818,673

11,913 12,353 11,447

285
79th term 80th term 81st term 82nd term 83rd termEuropesales base
KURODA ELECTRIC CZECH s.r.o.

Japansales bases
main logistics bases
manufacturing/processing companies
KURODA TECHNO CO., LTD.
KOMURA-TECH CO., LTD.
SOHWA & SOPHIA TECHNOLOGIES CO., LTD.
NICHIDO-DENKO CO., LTD.
holding company
Tenma-trust Co., Ltd.

Asia
sales bases

manufacturing/processing companies
PT TRIMITRA CHITRAHASTA

Z. KURODA (SINGAPORE) PTE. LTD.

Z. KURODA (THAILAND) CO., LTD.

KURODA ELECTRIC (MALAYSIA) SDN.BHD.

KURODA AUTO-TECH (THAILAND) LTD.

P.T. KURODA ELECTRIC INDONESIABORAMTEK (VIETNAM) CO., LTD.

Z. KURODA (THAILAND) CO., LTD. Bangkok Branch

KURODA MANUFACTURING VIETNAM CO., LTD.

Z. KURODA (THAILAND) CO., LTD. Hanoi Branch

ECOREA & KURODA ELECTRIC INDIA PVT. LTD. *2

KURODA ELECTRIC PHILIPPINES, INC.

RAINBOW METAL TECHNOLOGIES CO., LTD.

KURODA ELECTRIC KOREA INC.

KC AUTOMATION (SHENZHEN) CO., LTD.

KURODA ELECTRIC INDIA PVT. LTD.

KURODA PRECISION TECHNOLOGY CO., LTD.

Z. KURODA (HONG KONG) CO., LTD.
KURODA ELECTRIC (SHENZHEN) CO., LTD.
Kuroda GKM Co., Ltd.
SHANGHAI KURODA TRADING CO., LTD.
SHANGHAI KURODA TRADING CO., LTD. Nanjing Branch
SHANGHAI KURODA TRADING CO., LTD. WUXI Branch
TIANJIN KURODA TRADING CO., LTD.
TAIWAN KURODA ELECTRIC CO., LTD.

management and administrative companies, etc.
SHANGHAI KURODA MANAGEMENT CO., LTD.
HiVAT Global Co., Ltd.
Eco-Techwell Investment Inc.
*1 Non-consolidated subsidiary*2 Equity-method affiliate

KURODA ELECTRIC REPORT 06

GROUP COMPANY INFORMATION

Kuroda Electric is widely known as a “manufacturing trading company,” originatedfrom Kuroda Techno, which started as one of the divisions of Kuroda Electric.
With the innovative technologies accumulated over 50 years of experience in research and development, Kuroda Techno’s strength lies in
automatization-related technologies, providing a complex set of services from design through production to installation of the finished products.
Company name:
Foundation:
Capital:Number of Employees:
Shareholder:Line of business:

Head Office & Factory:*KC Automation(Shenzhen) Co., Ltd.
Website:KURODA TECHNO CO., LTD.
2000¥200 million
28 (as of September 30, 2017)
Kuroda Electric Co., Ltd. (100%)
Design and manufacturing service of highprecision production line equipment
Ultrasonic soldering technology products
Design and manufacturing service ofinspection and assembly line equipment
157, Shinyoshida-cho, Kohoku-ku,
Yokohama
First Floor, South 4th Building, New
Century Technology Industrial Park, Export
Process Zone, Pingshan, Shenzhen
http://www.kuroda-techno.com

Company History
1956
1963
1977
1980
1982
1992
1994
2000
2000
2003
2006
2010
2011

Established Kuroda Industry Co., Ltd. and entered into production division
Merged with the paint division of Kuroda Electric and established Kuroda Chemicals Co., Ltd.
Merged with Kuroda Electric
Introduced ultrasonic soldering technology from Asahi Glass Co., Ltd.
Started supplying of analog hard disc inspection tools
Started supplying of solar cell electrode printing devices
Started supplying of full automatic equipment for thin film solar cells production
Cerasolzer business transferred from Asahi Glass Co., Ltd.
Separated from Kuroda Electric Co., Ltd. and established Kuroda Techno Co., Ltd.
Started supplying of assembly equipment for ultra-compact (1-inch) HDD
Started supplying of fully automatic HDD assembly equipment
Started sales of Ceraribbon, solar industry-related consumable material
Started sales of Sunbonder, ultrasonic soldering device

Design and manufacturing service of high-precision production line equipment

Ultrasonic soldering technology products

Design and manufacturing service of inspection and assembly line equipment

Design and manufacturing of high-precision
production line equipment (automotive,
camera, FPD, etc.), manufacturing of
measuring devices for precision parts,
inspection tooling jigs and precision dies.

Design and development of soldering devices to solder
glass, ceramic substrates, rare-earth metals and resin films
by using our special solder and ultrasonic technology(soldering of lead electrodes for solar cells, electrode wires
and PC CRT integrated electrodes, bonding of target
materials, soldering of electrodes on highly conductive
ceramic substrates).

Design and manufacturing service of assemblyline equipment and jigs designed to steadily,
swiftly and reliably assemble HDDs, which are,in terms of technology, being rapidly improved
due to higher density and miniaturization.

07 KURODA ELECTRIC REPORTTOPICS
Tender Offer of Share Certificates, etc. of the Company by the MBK Partners GroupThe Company expressed its opinion in favor of the tender offer (the “Tender Offer”) with respect to the Company by KM Holdings, which is managed and operated by the MBK Partners
Group, and passed a resolution at the meeting of the Board of Directors held on October 31,
2017 recommending that our shareholders tender their shares in the Tender Offer*.
Background to the Tender Offer

In May 2017, the Company formulated and announced the New Mid-term Management Plan. We had recognized that we needed to implement measures to accomplish the important issues in the New Mid-term Management Plan and establish a stable business foundation, and also aim for further growth and increased corporate
value. To achieve it, we must execute M&As and enter into capital and business alliances with a degree of urgency, as well as actively engage in strategic investments in human resources and capital.

Purpose of the Tender Offer

In the Background to the Tender Offer outlined above, we determined that accepting the proposal for privatization by the MBK Partners Group, which has indicated its policy to provide various support as an independent
fund, including promoting M&As and reinforcing efforts to secure specialized human resources utilizing its solid
knowledge and strong network in regions centering on Asia, will not only increase the degree of accuracy of
the New Mid-term Management Plan but is also the best way for the Company to establish a stable businessfoundation beyond the period of the Management Plan and to achieve further growth and enhanced corporate
value.

Business operations after the Tender Offer
Overall business
Based on adhering to the New Mid-term Management Plan, we will continue to reinforce our efforts to secure human resources which are our biggest management resource, provide support for the implementationof various measures, and undertake revenue management by business segment and clarify business responsibilities.

Trading businessWe will consider not only the business strategy we are currently pursuing, but also growth strategies taking
all options into account, including the strengthening our overseas business.

Development & manufacturing businessWe will change from subsidiary-based operations to an operational structure that oversees business by segment, and will manage subsidiaries on a cross-sectional basis for each segment in order to further improveconsistency. In addition, we will actively promote M&As in order to further develop the business going forward.
* For details, please refer to “Announcement of Opinions regarding the Tender Offer of the Share Certificates, etc. of the Company by KM Holdings” (available
only in Japanese) dated October 31, 2017.

KURODA ELECTRIC REPORT 08

CORPORATE SOCIAL RESPONSIBILITY
Corporate Philosophy/Company Motto/Mission Statement The DNA of Kuroda Electric
The United Nations Global Compact

Joined on March 2, 2011

The 10 Principles of the UN Global Compact/sustainable development plan (SDGs) *The Backbone of our CSR Activities
SDGs Goal 4: Ensure quality education for all

SDGs Goal 15: Protect terrestrial richness as well

Educational Support in Thailand

Environmental Contribution Activities(1)	Periodical activities with and continued support for Ban Parai
Elementary School (Srisaket Province) in Thailand(2)	Continued support for Watdonputza School (Ayutthaya Province),
an elementary school close to Rojana Industrial Park(1)	Forest preservation activities in cooperation with the government
and NGOs (Tokyo, Aichi, Hyogo)(2)	Expansion of activities in surrounding areas of the Group’s bases inSoutheast Asia

UNGC Principle 6: Businesses should uphold the elimination of discrimination in respect of employment and occupation.
SDGs Goal 5: Achieve gender equality

Changing Work-styles(1)	 Change of awareness throughout the Company about
support of promotion of women’s advancement(2)	 Improvement of system for support of work-family balance
concerning childcare, family care, etc. and promotion oftaking leaves by employees including male employees(3) Expansion of job scope and categories of female employees(4) Promotion of control of overtime hours(5) Promotion of ensuring diversity within the Company“17 plans and 169 targets for sustainable development” adopted in 2015 as an agenda to be achieved toward 2030

Environmental Contribution Activities
KURODA ELECTRIC’s Company Forest Activities (Kawanishi, Hyogo)
In 2008, the Group initiated our forest preservation project in Ome City, Tokyo. Additionally, since 2011, similar activities have been carried out in
Kawanishi City, Hyogo Prefecture.
In the current fiscal year also, as part of the KURODA Company Forest activities, undergrowth mowing operation was carried out in July. The activity
was conducted in the jointly owned forests of Mt. Oozutsu (approximately 1 ha.), which stands on the Kurokawa area referred to as “Japan’s mostpreserved Satoyama” (a natural woodland that coexists with a nearby populated area). The area is part of a renowned production center of the highgrade “kiku-zumi” charcoal for tea ceremonies, beloved by people like Hideyoshi Toyotomi. Considering biodiversity and local sceneries of the Satoyama, we continue our environmental contribution activities such as planting sawtooth oaks and undergrowth mowing in order to contribute to thesustainable production of “kiku-zumi.”
This year, undergrowth mowing was carried out under the blazing sun after the end of the rainy season. We wrestled withweeds overgrown taller than a man’s height there. Although we
worked in the morning, we drenched with sweat after the hugetask.
On that day, a total of 72 people including employees of Kuroda
Electric, Komura-Tech, Nichido-Denko and Sohwa & Sophia Technologies as well as staff from Forest Building Section of Agricultural Administration and Environment in Hyogo Prefectural Officeand Hyogo Afforestation Promotion Association participated in
the activity. We will continue to perform such environmental
contribution activities going forward.

09 KURODA ELECTRIC REPORTCORPORATE INFORMATION / STOCK INFORMATIONAs of September 30, 2017

Corporate Profile

Status of Shares

Corporate Name

Kuroda Electric Co., Ltd.

Total number of shares authorized to be issued
120,000,000 shares
39,446,162 shares
Total number of shares issued and outstanding(stock trading unit: 100 shares)
Number of shareholders
8,823

EstablishedMarch 29, 1947

Capital¥10,045.76 million

Number of Employees

317 (230 males, 87 females)
3,709 total employees including group companies

Kuroda Group Network
Domestic Network Sales Bases: 11
Logistics Bases: 5
Manufacturing/processing Companies: 4
Holding Company: 1
Overseas Network Sales Bases: 23
Manufacturing/processing Companies: 10
Management and Administrative Companies, etc.: 3Head OfficeOsaka Head Office

Major Shareholders
Number of shares held Shareholding ratio(1,000 shares)(%)

Name of shareholder

RENO, INC.

3,742

9.94

AYA NOMURA

3,722

9.89

OFFICE SUPPORT CORPORATION

3,644

9.68

FUMINORI NAKASHIMA

3,562

9.46

JAPAN TRUSTEE SERVICES BANK, LTD.

3,464

9.20

THE MASTER TRUST BANK OF JAPAN, LTD.

1,061

2.81

140-0013
5-17-9 Minami-Oi, Shinagawa-ku, Tokyo
TEL: 03-5764-5500 FAX: 03-5764-1500

GOVERNMENT OF NORWAY

878

2.33

CITIZEN WATCH CO., LTD.

600

1.59

532-0012
4-11-3 Kikawahigashi, Yodogawa-ku, Osaka
TEL: 06-6303-1300 FAX: 06-6303-3078

STATE STREET BANK AND TRUST COMPANY

533

1.41

JP MORGAN CHASE BANK 385151

487

1.29

Officers
Directors

Executive Officers

Director

Koichi Hosokawa

Koichi Hosokawa*Director

Yasunobu Mori

Director

Kunio Tsuneyama

President
CEO & COO
Corporate Executive
Vice President

Director

Shigetoshi Okada

Executive Vice President

Yoshinori Nakae

Director

Atsushi Yamashita

Executive Vice President

Yasunobu Mori*

Director

Shuichi Shino

Executive Officer

Shigeo Yamamoto

Director

Shin Yasunobe

Executive Officer

Kozo Nakayama

Executive Officer

Tetsuya Kasuga

Executive Officer

Masami Matta

Note: Messrs. Kunio Tsuneyama,
Shigetoshi Okada, Atsushi
Yamashita, Shuichi Shino and Shin
Yasunobe are outside directors as
stipulated in Article 2, Item 15 of
the Companies Act.

Masami Murakami(Notes) 1. S hares have been rounded down to the nearest thousand shares.
2. T he Company owns 1,811,331 shares of treasury stock but is excluded fromthe ten shareholders noted above. The shareholding ratio is calculated after
the deduction of treasury stock.
3. T he number of shares held (1,000 shares) is based on the shareholders register as of September 30, 2017.

Shareholder Composition

Composition byshareholder* Concurrently serving as director

Composition
by no. ofowned shares

Shareholder type

Number ofshareholders

Number of shares(1,000 shares)

Shareholding
ratio (%)

Financial Institutions
Financial instruments business operators
Other entities
Foreign entities, etc.
Individuals and others
Treasury stock

29
43
103
179
8,468
1

5,601
564
9,879
7,522
14,066
1,811

14.20
1.43
25.05
19.07
35.66
4.59

Number of
Number of owned shares shareholders

Number of shares(1,000 shares)

Shareholding
ratio (%)

21,588
8,321
1,614
3,476
812
1,956
612
1,055
8

54.73
21.10
4.09
8.81
2.06
4.96
1.55
2.68
0.02

5,000 units or more
1,000 units or more
500 units or more
100 units or more
50 units or more
10 units or more
5 units or more
1 unit or more
Less than 1 unit

12
41
22
162
124
1,187
1,035
5,923
317

KURODA ELECTRIC REPORT 10

Information for Shareholders
Fiscal Year

From April 1 to March 31

Shareholder Record Date forYear-end Dividend Payment

March 31

Shareholder Record Date forInterim Dividend Payment

September 30

Ordinary General
Annually in June
Meeting of Shareholders

N o t e s
1. Following the introduction of electronic share certificates, procedures for matters such as change of addressof shareholders and requests for purchase are, in principle, handled by the account management institution
where your account was established (such as a securities
company). Please forward such related inquiries to thesecurities company or other institution that established
the account, as these procedures are not handled by the
Stock Transfer Agent (Mitsubishi UFJ Trust and Banking
Corporation).

Stock Transfer Agent andAccount Management
Institution for Special Accounts

Mitsubishi UFJ Trust and Banking
Corporation

Contact Information

Mitsubishi UFJ Trust and Banking Corporation
Osaka Stock Transfer Agency
3-6-3 Fushimi-cho, Chuo-ku, Osaka 541-8502
TEL: 0120-094-777 (free dial)

2. Regarding procedures for matters relating to shares
recorded in special accounts, Mitsubishi UFJ Trust andBanking Corporation is the Account Management Institution. Please forward related inquiries to the AccountManagement Institution for Special Accounts (Mitsubishi
UFJ Trust and Banking Corporation) through the contact
information written on the left. Please be informed thatnationwide branches of Mitsubishi UFJ Trust and Banking Corporation also act as agents.

Stock Exchange ListingFirst Section of the Tokyo Stock Exchange

3. Unclaimed dividend payments shall be paid to the head
office of Mitsubishi UFJ Trust and Banking Corporation.

Media of Public Notice

Nihon Keizai Shimbun

Corporate Profile

Information for Investors

Various information for a better understanding of theCompany, including the latest news and IR information, isposted on our website.

KURODA ELECTRIC

140-0013 5-17-9 Minami-Oi, Shinagawa-ku, Tokyo TEL: 03-5764-5500 FAX: 03-5764-1500

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