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To Our Shareholders

President Mitsuyoshi Shibata
President Mitsuyoshi Shibata

Firstly, I would like to express my sincere gratitude to our shareholders for their continued support and patronage.

During the first half (second quarter consolidated period)of the current fiscal year, the Furukawa Electric Group posted significant declines in net sales and operating income as Furukawa-Sky Aluminum Corporation and Sumitomo Light Metal Industries Ltd. merged to become UACJ Corporation, an equity method affiliated company. Although overseas businesses improved in the Telecommunications Business and the Energy and Industrial Products Business, the Company suffered year-on-year decreases in sales and profit due to the impact of snow damage to the Nikko office in February this year as well as the rising costs of raw materials caused by the depreciation of the yen.

As announced in May, the Company is still on its way to the recovery of business performance and the improvement of its financial structure, has regrettably decided to suspend interim dividends. We apologize. We are planning to further strive to improve business performance in order to pay a year-end dividend of 3 yen per share this fiscal year.

The Furukawa Electric Group will make concerted efforts to achieve growth strategies in the structure reform and the new med-term management plan (FY2013-FY15) started from last fiscal year, thereby improving the overall profitability and aiming at further future growth in sales and profit.

I appreciate your continued support.

President Mitsuyoshi Shibata
December 2014
Mitsuyoshi Shibata

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