To our shareholders and investors,

Firstly, I would like to express my sincere gratitude for your continued support and patronage.
I am Keiji Nakamura and will continue to serve as president of Maxell Holdings, Ltd. after approval at the Annual General Meeting of Shareholders held on June 29, 2021.

Our group has positioned fiscal 2020 as the year of drastic business reform and promoted business portfolio reform including specific measures to unprofitable businesses. At the same time, by thoroughly implementing financial discipline based on profitability across all business divisions, product groups and models, we believe we have created a business foundation to transform ourselves into a company that creates value. Going forward, we will continue to practice "value-committed" management that emphasizes corporate value and profit growth. We will return to profit re-growth in fiscal 2021, and aim to achieve Operating profit margin of 10% and ROIC of 7% or more in fiscal 2023, the final year of the new Mid-term Plan "MEX23".
In addition, on October 1, 2021, we will merge with Maxell, Ltd., the major operational company of our group, to further powerfully lead our group after dissolving the holding company structure.

Going forward, we will continue to implement reforms aimed at achieving profit growth, and we will do our utmost to become a "Value Creation Company" that provides the highest value to our shareholders, investors, and all other stakeholders.

I would like to ask all of you for continued support.

June 2021




Keiji Nakamura

President and Representative Director

Maxell Holdings, Ltd.