Company Presentation
Material

May 20, 2024
Hakudo Co., Ltd.
(ticker symbol 7637)

Table of Contents
4． Primary Business Fields

1．About us
Corporate Overview
History
Domestic Locations
Group Company
Certification

… P3
… P4
… P5
… P6
… P7

Customer Industry
Three expanded areas①Semiconductor/FPD
production equipment… P 24②Automobiles/motorcycle③Aircraft/aerospace related … P 25

2．Business Overview
Our product line
Business Model①- standard stock items
Business Model②- special order products

Exceptional value

5．Overseas Network… P9… P 10Overseas Locations
Overseas Network… P 11… P 13… P 27… P 28

6．Business Environment

3．Hakudo Net Service① Raw Material Market Trends② Machine Tool Orders③ Semiconductor Production
Equipment Sales

Hakudo Net Service… P 15Back-order items… P 16
Drawing processing order … P 17
Other functions… P 18CS Net Service… P 192024 © Hakudo Co., Ltd. All rights reserved.

… P 21… P 22… P 231… P 30… P 31… P 32

1．About us2

Corporate Overview

Unit: Million yen
FY03/22

FY03/23

FY03/24

FY03/25

Trade name

Hakudo Co., Ltd.

Net Sales

554

616

572

641

Listedmarket

TSE Prime Market（7637）

Ordinary Profit

43

39

28

32

Headquarters

11F, Mitsubishi Building, 2-5-2,
Marunouchi,Chiyoda-ku, Tokyo, Japan

Profit attributableto owners of parent

29

27

19

21

Foundation

February 1932

Net Assets

198

212

224

－

IndustryNon-ferrous metals wholesale

Total Assets

417

431

420

－

Number of
employees

748（FY2024）
FY03/22

FY03/23

FY03/24

FY03/25

Ratio of shareholders'equity to total assets

54.0%

47.5%

53.5%

－

ROE

7.3%

15.7%

8.8%

－

Annual Dividends

58yen

115yen

80yen

85yen

Business
Institutional
designBoard ofDirectors

Processing & sales of plates, bars,
aluminum tubes, elongated copper
products, stainless steels & plastics
Company with Audit Committee(with Nomination and Compensation
Advisory Committee)

4 internal Directors
5 External Directors

2024 © Hakudo Co., Ltd. All rights reserved.

（Dividend payout ratio)

3（53.6%）（46.7%）（47.3%）（45.0%）

History
Hakudo Co., Ltd. has been striving to become "a company that strongly
supports manufacturing" by providing nonferrous metals and otherindustrial materials.
Establishment of Hakudo USA
Inc.WCAS becomes a memberof the Hakudo Group.

売上高
Sales

Listed market classification
changed to "Prime Market”
AQR Co., Ltd becomesa wholly owned subsidiary
Establishment of
Hakudo(Thailand)CO.,LTD.
Listed on the TSE First Section
Establishment of Shanghai Hakudo
Percision Materials Co., Ltd.

Implemented
computer system

Registered as over-thecounter with J-SEC.

Company name changed
to “Hakudo Co., Ltd.”Started
cutting sales

Founding of“Hakudo Shoten”

1949年
1950

1959年
1960

1969年
1970

2024 © Hakudo Co., Ltd. All rights reserved.

1979年
1980

1989年
1990

4

1999年
2000

2009年
2010

2019年
2020

Domestic Locations
We have 9 sales offices (including subsidiaries) and 5 manufacturing
sites throughout Japan.
Fukushima Process Center
Saitama Process center

Shiga Process center

Sendai Office
Takasaki Officeheadquarters

Hiroshima Office

Kyushu Process center
Kyushu Sales Office

East Japan
Customer CenterWest Japan
Customer Center
Osaka Office

Kanagawa Process center

Atsugi Sales Office

Nagoya Office2024 © Hakudo Co., Ltd. All rights reserved.

5

AQR Co., Ltd

Group Company
We have one group company in Japan and four group companies overseas.

UnitedStatesHakudo USA Inc.
West Coast Aluminum＆Stainless,LLCJapan

AQR Co., Ltd
China

Shanghai Hakudo Percision
Materials Co., Ltd.
Thailand

Hakudo (Thailand) CO.,LTD.

Overview ofWest Coast Aluminum＆Stainless,LLC
Location

16431 Carmenita Road Cerritos, CA 90703

CEO

Robert Lampi

Number of employees

13（FY2023）

Business Activities
Product Sales Ratio

2024 © Hakudo Co., Ltd. All rights reserved.

6

Aluminum and stainless steel sheet
distributor.
Stainless steel: 50%
Aluminum: 30%

Certification
We are committed to establishing, implementing, and maintaining amanagement system that conforms to the requirements of the JIS regulationsin quality, environment, and information security.

JIS Q 27001

JIS Q 9100

JIS Q 14001[Environment][Information Security]

A national standard for
quality management
systems based on ISO
9001, incorporating
requirements specific to
the aerospace industry.

National standards forenvironmental
management system
requirements thatorganizations can use toimprove theirenvironmental
performance.

Domestic standard for
ISMS certification, acomprehensive information
security management
system for information
assets.

[Aerospace]※1※1 Please refer to our website for detailed information on the scope of
certification and certified organizations.

2024 © Hakudo Co., Ltd. All rights reserved.

7※1

2. Business Overview

2024 © Hakudo Co., Ltd. All rights reserved.

8

Our product line
Each material has various characteristics such as weight, hardness,and thermal conductivity, and has a wide range of applications.
Aluminum

Stainless Steel【Sales composition
by product type Q4 FY03/24】

4.5%
Plate

Bar

Tube

Plate

Bar

OthersTube

StainlessCopperOthersSpecial steel, titanium,
plastic, etc.

Plate

Bar

Tube

2024 © Hakudo Co., Ltd. All rights reserved.

9

20.6%

Aluminum
Copper

15.0%

60.0%

Business Model① standard stock items
A wide range of industrial materials, mainly aluminum, copper alloy, stainless steel, special steel,and plastics, are cut and processed for delivery in the shortest possible time, with next-day delivery.

Supplier

order

Customer

Purchasing
sectionDistributors/Users（Sales ratio about 50:50）

Information

Costomer Center

order
Web E-mail
FAX Phone

supplyShipping
Instructions

own factory

standard stockitems

2024 © Hakudo Co., Ltd. All rights reserved.

10

Delivery of
products

Business Model② special order products
A business that delivers custom-made materials and fabricated parts produced by making
proposals according to the customer's requirements without going through our factory.

Consultation & Ordering

Sales
staff

Customer

Suggestion

Ordering

Delivery ofmaterials

Delivered
when needed

warehouse

Cooperative
processing company

Supplier
supply2024 © Hakudo Co., Ltd. All rights reserved.

Delivery ofmachined parts

11

Examples of special order products
We tie up with rolling, extrusion and parts processing manufacturers tomeet a wide range of customer requirements.
Extruded parts

Sketch materials andchamber materials forsemiconductor and FPD
manufacturing equipment.

Pneumatic parts, cylinder
body parts, manifold bodyparts.

Made to order byspecifying dimensions

High dimensional accuracy
even in complex shapes

Utilizing domestic andinternational networks

Realization of low cost andhigh quality

We can manufacture plates ofvarious materials in specified
dimensions. We can provide largematerials that exceed generalstandard sizes and manufacture in
specified dimensions to improveyields and reduce costs.

By extruding the material in ashape similar to the product,
the weight of the material canbe reduced, which, together
with the reduction in processing
man-hours, greatly contributes
to cost reduction.

By using the processing
network that we have formed incooperation with domestic andoverseas customers, Hakudo
will select the most suitablecompany to provide machined
products.

Products manufactured by
Chinese mold basemanufacturers carefully
selected by the Hakudo Groupare provided under thoroughquality control.

2024 © Hakudo Co., Ltd. All rights reserved.

Machined parts

Imported molds andmold parts

Rolled products

Metal parts, products, jigs
and tools are manufactured Plastic molds, die-casting
to order according to
molds
drawings.

12

Exceptional value
We aim to realize "Satisfactory Price" with "Exceptional Quality","Exceptional Speed", and "Exceptional Service".

Exceptional

Exceptional

Exceptional“Quality”“Speed”“Service”◆JIS Q 9100 (Aerospace) certificatio◆◆Hakudo Net Service◆◆Wide selection of products◆

We provide immediate response on price anddelivery date through "Hakudo Net Service," whichallows customers to place quotations and orders
24 hours a day, 365 days a year via the Internet.

We provide 5,400 standard stock items,
including aluminum, copper alloy, stainless steel,special steel, titanium, and plastic, as well as
79,500 items on request.

We have obtained JIS Q 9100 certification.
In addition to the processing of nonferrous
metals, steel, and plastics, our metal 3D printercontract molding services have also met thequality management requirements of theaerospace industry.

◆ Traceability ◆IoT in our factories enables us to track not only
material production lots, but also the history ofprocessors and processing machines.
We also have a system in place to check whether
processing is being carried out according to QC
process diagrams. Mill sheets for materials
can also be obtained from the Internet.

Satisfactory prices

In addition to standard stock items, we also
provide immediate response on prices and delivery
dates for items on order.

◆Quick response◆
The Customer Center can respond to inquiries byphone, fax, or e-mail within 30 minutes.

◆Quick delivery◆
We have stock and processing plants in fivelocations in Japan, enabling next-day delivery
at the earliest.

Hakudo aim to realize "Satisfactory Price" with "Exceptional
Quality", "Exceptional Speed", and "Exceptional Service".
2024 © Hakudo Co., Ltd. All rights reserved.

13◆ Wide selection of machining type◆
We are capable of machining by “Machining
Centers”, milling and polishing, as well as
deformed cutting by contour machines and“Water-jet cutting machines”, and ”Circle
Milling” by dedicated circular milling machines.

◆One-stop service◆
We are a One-stop service for your requests formaterials, processed products, surface treatment,
etc., making full use of our network of partnercompanies not only in Japan but also overseas.

◆Made-to-order even very small size◆
Even 1 piece, 1 sheet, or 1 gram can be cut
and processed to the dimensions you specify,
and delivered nationwide in Japan in as little as
the next day.

3. Hakudo Net Service

2024 © Hakudo Co., Ltd. All rights reserved.

14

Hakudo Net Service
With Hakudo Net Service, you can get a quote and place an order 24hours a day, 7 days a week, 365 days a year.

Hakudo standard stock

5,400 items＋

Inventory at other companies

79,500 items※by the end of
March 2024

companies using
11,800 companies
registered users
24,100 users※Including the number ofregistrations for CS net services※by the end of
March 2024

2024 © Hakudo Co., Ltd. All rights reserved.

15

Back-order items
In addition to material products stocked by other companies, we also offer a wide
range of non-material items such as cutting tools and auxiliary materials.
Materials 22,400 items

Non-materials

57,100 items（ As of March 31, 2024）

Examples of products available on order※2023年9月末時点

2024 © Hakudo Co., Ltd. All rights reserved.

※CSネットサービスの登録件数を含む※2023年9月末時点

16

Drowing processing order
We are also developing a machining quotation and ordering service for complex shapes using 3D CAD data.

metal 3D
printermodeling

material of
CAD dataof drawing▲ By uploading 3D CAD dataand selecting molding materials,
the estimated cost and estimateddelivery date are calculated on
the spot.

▲ By uploading 3D CAD data, we willcalculate the estimated cost andestimated delivery time for the original
materials required for the drawing.

drawingin the web
Hole shapes and cutouts can be
specified in the drawing web service

2024 © Hakudo Co., Ltd. All rights reserved.

17

Other functions
Quotation and order log, delivery slips, invoices, and material inspection reports canalso be viewed on the web.

Order
Log

invoice
Material
Inspection
Reports

Deliveryslips

You can check the progress status of yourorder, such as "Waiting for receipt," "Slipoutput," "Processing," "Shipped," etc.

2024 © Hakudo Co., Ltd. All rights reserved.

18

CS Net Service
CS Net Service is available as a service for distribution sales destinations.
Previous order flow

Distributor'sCustomers

order

Distributor

order

Order flow using "CS Net Service”

Distributor'sCustomers

order
noticeDistributor
Distributors can set margins for each customer and product.
Immediate quote and order confirmation
Order
Statusat the distributor's customer without

processing at the distributor

2024 © Hakudo Co., Ltd. All rights reserved.

19

invoicenumberMaterial
Inspection Allows Web
Reports confirmation

4. Primary Business Fields

2024 © Hakudo Co., Ltd. All rights reserved.

20

Customer Industry /Applications of our products
Our products are applied in a wide range of fields, from the semiconductor andautomotive industries to consumer electronics and aircraft.
Breed
Aluminum

Copper
StainlessSpecial SteelResin

Industry
Semiconductor/
FPD production equipment
Other machine tools
Home Appliances
Shipbuilding
Aircraft/aerospace related
FPD
Automobiles/motorcycles
Semiconductor
Semiconductor/FPD
Food Products
Automobiles/motorcycles
Home Appliances
Automobiles/motorcycles
Semiconductor/FPD
Food Products

Usage examples
Chamber materials for manufacturing
equipment

Robots/Vacuum/hydraulic devices
Molds for molding parts
LNG carrier
Air cylinder and manifold
Target material
Parts
Lead frame
Chamber materials
Chamber materials
Body structural parts, various dies
Various dies
Bumper, instrument panel, etc.

【Sales composition
by industry Q4 FY03/24】
4.1%

9.7%

4.3%

36.4%

5.4%
5.1%
5.4%

11.6%

Conveying equipment parts, insulating parts
Packaging materials, transport equipment parts
Semiconductor/FPD
半導体・FPD製造装置
production equipment
OA機器
OA devices

Othermachine tools
その他工作機械

Automobiles/motorcycles
自動車・自動二輪車

Dies
金型
Aircraft/aerospace
航空・宇宙関連
relatedElectronic components
電子部品
その他
Other industries

2024 © Hakudo Co., Ltd. All rights reserved.

18.0%

21

Vacuum/hydraulicdevices
空圧・油圧機器Three expanded areas
We have focused three strategic industry focuses :Semiconductor
industry, Automotive industry and Aircraft/aerospace industry.

Semiconductor

Automotive

Aircraft/aerospaceindustryindustryindustry

Q4 FY03/24

Q4 FY03/24

Q4 FY03/24

sales ratio

sales ratio

sales ratio

36.4％

4.1％

5.1％

【Growth domain quarterly sales indicators】
250

Semiconductor
FPD
半導体FPD製造装置
production equipment

200

Automobiles
自動（自動二輪）車

航空・宇宙関連
Aircraft/aerospace-related(motorcycles)

150
100
50

Q1

Q2

Q3

Q4

Q1

FY03/21

Q2

Q3

Q4

FY03/22Q2

Q3

FY03/23

Note: Sales index based on sales in Q1 FY03/21
2024 © Hakudo Co., Ltd. All rights reserved.

Q1

22

Q4

Q1

Q2

Q3

FY03/24

Q4

Growth domain① Semiconductor production equipment industry
We provide not only thick aluminum and stainless plates for chambers, but also materials forvarious parts to the semiconductor manufacturing equipment(SPE) industry, which has ahigh need for circular materials, by supplying circular materials using“Circle Milling” and “Fine Rings”, which are specialized circular processing machines.

▼ Sample of products provided with materials
Process chamber for SPE and FPD【Materials】 A5052 Plate、A6061 Plate▲ Circle Milling

Transferchamberfor SPE and FPD
半導体・
FPD用トランスファーチャンバー【Materials】 A5052 Plate、A6061 Plate、KN520 Plate

Turbo Molecular Pumps

Fine Rings【Materials】 A2618 Plate

Hakudo’s buying power

Shower head (built into process chamber)

Supply capacity for large orders【Materials】 High Spec 6061 Plate、52S Plate

Cooling Plate (built into process chamber)【Materials】 High Spec 6061 Plate、52S Plate

Three exceptional value

Gate Valves

Quality, Speed, Service【Materials】 High Spec 6061 Plate、52S Plate
2024 © Hakudo Co., Ltd. All rights reserved.

23

Growth domain② Automotive industry
We can propose the most suitable processing methods and processors through ourown metal 3D printer modeling and domestic processing network.

▼ Sample of products provided with materials
Racing Car/Engine Parts✓ Making full use of domestic machining network.
✓ Significant cost reduction and quality improvement.
✓ Wide range of support from inspection documents
to environmental documents.

▲ Metal 3D PrinterWindshield Molding Die Development Parts▲ Samples of 3D printer✓ Based on the customer's design proposal, we propose a part shape
Metal 3D Printerthat can be manufactured using a metal 3D printer or machining
Enables complex
process.
modeling✓ We select a machining company that not only provides high quality,
but also takes into account delivery time and response to modifications.

Metal Materials Coordinator

Motorcycle Custom Intake Manifold Parts

Variety of products and wide
range of proposals✓ Multiple proposals for construction methods including
metal 3D printers, molds, sand molds, and plaster castings.
✓ Realize cost reductions by taking advantage of castingThree exceptional value
characteristics and reducing additional machining.
Quality, Speed, Service✓ Finish processing and surface treatment are also available.
2024 © Hakudo Co., Ltd. All rights reserved.

24

Growth domain③ Aircraft/aerospace industry
We have acquired "JIS Q 9100" certification (a quality management system based on ISO 9001 thatincorporates requirements specific to the aerospace industry).

We also have a large inventory of aerospace standard materials.
▼ Aerospace standard materials stocked-Aluminum-2024-T351 AMS-QQ-A-250/4 Plate
6061-T651 AMS4027 Plate
7050-T7451 AMS4050 Plate
7075-T7351 AMS-QQ-A-250/12 Plate▲ Water-jet cutting
machine-Stainless Steel-

AMS5643 17-4PH Round Bar
AMS5659 15-5PH Round Bar-titanium/other-

AMS4911 6AL-4V titanium Plate
AMS5662 inconel718 Round Bar(ST)
AMS5663 inconel718 Round Bar(AG)▼ Sample of products provided with materials
Aircraft Seat Components

Convenience Dealer ofAerospace Standard Materials
Instant delivery system established

JIS Q 9100

Aircraft dust box

Standards-based quality
control system

Aircraft Engine Turbine Blades2024 © Hakudo Co., Ltd. All rights reserved.

▲Samples of water-jet cut products

Three exceptional value
Quality, Speed, Service25

5. Overseas Network

2024 © Hakudo Co., Ltd. All rights reserved.

26

Overseas Locations
Hakudo is expanding overseas through group companies, invested
partners, and other affiliated companies.

Asia

Year 2003
Tianjin Office

Shanghai Hakudo Percision
Materials Co., Ltd.
Oristar Corporation
Guangzhou Office

Hakudo (Thailand) CO.,Ltd.

“Shanghai Hakudo Percision
Materials Co., Ltd.” establishedYear 2014“HAKUDO(THAILAND)Co.,Ltd.”establishedYear 2020

Invested in “Oristar Corporation”
in Vietnam

Thailand Partner Company
Vietnam Representative Office
Malaysia Partner Company
Indonesia Partner Company

North Ameriva
Year 2022“Hakudo USA Inc.” establishedYear 2023

Hakudo USA Inc., acquired a stakein “West Coast Aluminum &Stainless, LLC”
2024 © Hakudo Co., Ltd. All rights reserved.

27

Hakudo USA Inc.
West Coast Aluminum & Stainless, LLC

Overseas Network
We have established subsidiaries in Shanghai, Thailand, and the United States.
In Vietnam, Indonesia, and Malaysia, we have formed business alliances withlocal companies to provide the same services as in Japan.
Status of Activities◆ Business Expansion by Location
Expanding E-commerce business at overseas subsidiaries, mainly in Thailand.
In Southeast Asia, we aim to expand sales via distributor partners, particularly in Vietnam.
Nonferrous metals import wholesale and processing business started at a U.S. subsidiary. E-commercebusiness is scheduled to start in Q2 FY03/25.

◆ Consideration of investment and partnerships
Continued to pay visits and have discussions with possible investment candidates and partners mainly in the
U.S., South Korea and Taiwan. In addition, some pilot transactions have already started in Taiwan.

Overseas Net Sales and Sales Ratio
Achieved the overseas sales ratio target of 12% for the Hakudo Group in the final year of the mediumterm management plan (FY03/25) ahead of the schedule.

Unit:
Million yen

10,000

20%

9,000

海外売上高
Overseas sales

海外向け売上高比率(実績)
Ratio of sales for overseas

15%

8,000

15%

7,000
6,000
5,000
4,000
3,000

6%

9%

8%

10%

5%

10%
5%

2,000
1,000

0%

0

FY03/19
FY03/20
FY03/21
FY03/22
FY03/23
FY03/24
Note: Overseas sales calculated as the sum of overseas subsidiary sales and head office export sales to non-subsidiary companies overseas.
2024 © Hakudo Co., Ltd. All rights reserved.

28

6. Business Environment

2024 © Hakudo Co., Ltd. All rights reserved.

29

Business Environment ①
Raw Material Market Trends for Aluminum, Copper and Stainless Steel•

Aluminum ingots continued to rise until March 2022. Prices have been on a downtrend sincethen, but have recently risen again due to the weak yen and other factors. Electrolytic copper
prices also rose rapidly and reached new highs.

1,600

Unit: Thousand yen per ton

1,400

Aluminum ingots
アルミニウム地金

1,200Electrolytic copper price
電気銅建値
ステンレス製品市中価格
Stainless steel sheet

1,000

End of Mar 2024
1,370 thousand yen
per tonEnd of Mar 2024
600 thousand yen
per ton

800

600

400

End of Mar 2024
400 thousand yen
per ton

200

0

Sep
9月末
2016

2017年
Mar
Sep
3月末 2017
9月末
2017

2018年
Mar
3月末
2018

Sep
9月末
2018

2019年
Mar
Sep
3月末 2019
9月末
2019Electrolytic copper price: JX Nippon Mining & Metals
Aluminum ingots: Nikkei monthly average2024 © Hakudo Co., Ltd. All rights reserved.

2020年
Mar
3月末
2020

Sep
9月末
2020

2021年
Mar
3月末
2021

Sep 2022年
Mar
9月末
3月末
2021 2022

Stainless steel sheet: Japan Metal Daily median30

Sep 2023年
Mar
9月末
2022 3月末
2023

Sep 2024年
Mar
9月末
2023 3月末
2024

Business Environment ②
Comparison of Machine Tool Orders and Standard Stock ItemsSales••

The volume of machine tool orders has been in decline since peaking in March 2022.
Compared to the Q4 (January-March) in the previous fiscal year, domestic orders decreased by
14.6% and foreign orders decreased by 5.3%.
Hakudo’s net sales ofOrder amount(Billion yen)standard stock items(Billion yen)

200
2,000

4.0
40

Hakudo’s net salesof standard stock
items

180
1,800

3.5
35

160
1,600

3.0
30

140
1,400

2.5
25

120
1,200

2.0
20

100
1,000
800
800

1.5
15

foreign orders

600
600

1.0
10

400
400
200
200
00

Mar
2018年
2018
3月

0.5
5

domestic orders

Sep
2018
9月

Mar
2019年
2019
3月

Sep
2019
9月

Mar
2020年
2020
3月

Sep
2020
9月

Mar
2021年
2021
3月

Sep
2021
9月

Mar
2022年
2022
3月

Sep
2022
9月

Source: Japan Machine Tool Builders' Association - machine tool orders statistics

2024 © Hakudo Co., Ltd. All rights reserved.

31

Mar
2023年
2023
3月

Sep
2023
9月

Mar
2024年
2024
3月

00

Business Environment ③
Comparison of Semiconductor Production Equipment Sales and Standard Stock Items Sales••

In the long term, demand is expected to expand due to IoT, digital transformation (DX), AI, and electricvehicles, etc. Although a sense of bottoming out has emerged, a full-fledged recovery is expected to take time.
Although there was temporary equipment demand for generated AI and China at the end of the fiscal year,
memory and logic semiconductors, which account for a large portion of semiconductor demand, have yet tosee a recovery in demand and are still in an adjustment phase for inventory and other factors.
Sales of production
600 equipment in Japan(Billion yen)

Hakudo’s net sales ofstandard stock 5.0
items(Billion yen)50
4.5

Hakudo’s net salesof standard stock
items

6,000
500

5,000

45
4.0
40
3.5

400

35

4,000

3.0

30

300

25
2.5

3,000

1.5
20

200

2,000

15
1.0
10
0.5

100
1,000

5

0

0

0
Mar
2018年
2018
3月

Sep
2018
9月

Mar
2019年
2019
3月

Sep
2019
9月

Mar
2020年
2020
3月

Sep
2020
9月

Mar
2021年
2021
3月

Sep
2021
9月

Mar
2022年
2022
3月

Source: Semiconductor Equipment Association of Japan - statistical data
2024 © Hakudo Co., Ltd. All rights reserved.

Sep
2022
9月

Mar
2023年
2023
3月

Sep
2023
9月

Mar
2024年
2024
3月

0

Thank you very much for your attention.
■Hakudo Official Social Media Accounts
We have created official accounts on LINE and Facebook toregularly disseminate product introductions, exhibition
announcements and other useful information.
Please use the QR codes to follow Hakudo online!

■Disclaimer
This document contains projections based on assumptions,
outlooks, and plans regarding the future as of May 2024. Actual
results may differ materially from those projected in forwardlooking statements due to risks and uncertainties related to theglobal economy, competitive conditions, and other factors.

■For more information, please contact:
Hakudo Co., Ltd. Management Planning Section
E-mail address: hkdkeiki＠hakudo.co.jp
Website: www.hakudo.co.jp

2024 © Hakudo Co., Ltd. All rights reserved.

33