Messages from members of corporations in which JIS has invested

Mr. Hiroshi Yokota

Representative Director President Tokuyama Corporation

Tokuyama Group had engaged in the polycrystalline silicon business in Malaysia to strengthen our strategic business growth. However, as a result of this, Tokuyama posted a large impairment loss for the second consecutive year and our business and the financial performance was deteriorated dramatically. For this reason, we decided to reconsider our strategy from a fundamental basis and formulated a new medium-term management plan, "Cornerstone of the Group's Revitalization", for the five years from the fiscal year 2016. In this medium-term plan, we set the goal of becoming a global leader in advanced materials through unique technologies across growth businesses including the Specialty Products and Life & Amenity segment together with the development of new products. In our traditional businesses such as the Cement and Chemicals segments, we will work to become a leader in Japan by enhancing the competitiveness.

Through this process, we received the strong support from Japan Industrial Solutions Co., Ltd., such as underwriting classified stock for the purpose of enriching the damaged capital. Also, the company gave us very fruitful advice and guidance at the board meetings and other occasions. With the cooperation of your company, we achieved the highest profit of in our history in the fiscal year 2016 and a stable cash flow is expected for the fiscal year 2017. As the result of these, we were able to repurchase and cancel entire issued classified stock earlier than planned. Although it was a short period, less than a year, we would like to extend our deepest appreciation for your thoughtful support during the period.

We would like to assure that Tokuyama Group will continue contributing in making people happy and developing a better society. Through chemistry, we aim to become a company that continues to create values useful for living.

Messages from members of corporations in which JIS has invested

Mr. Katsuaki Nomura

Executive Vice President, Member of the Board Sharp Corporation

Our company received preferred stock investments from two major financial institutions (applied to repayment of debt) in June of 2015, as well as growth investment funds from JIS, and started a business structure reform.

However, our business environment focused on the LCD business grew in severity more than expected, and eventually we accepted the strategic investment by Hon Hai group to take a step toward a new rebirth.

We would like to express our sincere appreciation to JIS for the support in financial aspects, as well as support from the corporate governance point of view, including physical support, during that time.

Hereafter, along with business expansion in cooperation with Hon Hai group, we will do our best to make drastic structural reforms and make a recovery in performance as soon as possible.

Messages from members of corporations in which JIS has invested

Mr. Hiroyuki Shime

Representative Director President, Chief Executive Officer UNITIKA LTD.

Since 2012, our business had significantly declined and which led to the deteriorating financial condition due to prolonged appreciation of the yen, weak domestic consumption, and rising raw material costs.

In consideration of those harsh business conditions, we formulated a fundamentally renewed medium-term management plan in May 2014. According to the plan, while we have implemented structural reform at an unprecedented level, we also have driven forward a growth strategy where we accelerated expansion and reinforcement of the highly profitable polymer business by actively investing the management resources.

As a result, our revenues have been improved along with the plan, and the growth strategy progressed steadily. In FY 2016, our operating profit ratio almost reached a mile stone of 10%, and the interest-bearing liabilities were reduced ahead of schedule.

We deeply appreciate all the help from Japan Industrial Solutions Co., Ltd (JIS) during the difficult period. We received significant financial support from JIS to promote the growth strategy. They also provided us, through the business meetings with valuable advice and guidance in every aspect of the business planning, implementation, and operation.

We will keep working hard to accomplish the new medium-term management plan from FY 2017 so that we can contribute to the society through further growth of our business and enhancement of the corporate value, and we will be aiming to become a company that conforms the expectations of the related parties who support us.

Messages from members of corporations in which JIS has invested

Mr. Gon-emon Kurihara

President and Representative Director JEOL Ltd.

Due to the Lehman shock in 2008 and the yen’s sharp appreciation, the JEOL Group has faced lots of challenges in the management of our businesses. However, as a result of the efforts of Management structure reforms made by the entire JEOL Group together as one, we have achieved a V-shaped earnings recovery in FY 2012 and the profit hit an all-time record in FY 2013.

We would like to express our sincere appreciation to JIS for the support and insightful advice JIS has given us that were very responsive to our management circumstances in the process of the recovery as above.

Based on the achievements of the Management structure reforms, we will continue to make best use of the scientific and measurement instruments in which JEOL has strengths, such as electron microscopes with the world’s highest level of resolution, and will continue to provide the optimal solutions to customers in the cutting-edge areas of research including material development, nanotechnology, green technology, life science and biotechnology.

Messages from members of corporations in which JIS has invested

Mr. Naomi Inoue

President & CEO Joban Kosan, Ltd.

Due to the East Japan Great Earthquake, Joban Kosan, Ltd. has suffered a serious blow to Spa Resort Hawaiians which is the core business facilities of the company, and the business conditions faced with a serious situation. However, we have received prompt and adequate support and guidance with regard to corporate turnarounds from Japan Industrial Solutions Co., Ltd. ("JIS").

We would like to express our sincere appreciation to JIS.

In February 2012, we opened the new hotel "Monolith Tower" and resumed full operation. Since then the business performance has continued to be very strong. As a result, in August 2013, the cumulative number of visitors reached 60 million people.

Going forward, taking the opportunity of the 50 years anniversary of foundation of the company, we would like to hold commemorative events to express our appreciation to people who have given a lot of support during the difficult period and continue to make efforts as a leading runner to revitalize Fukushima.