In appreciation of the ongoing support of PILOT Corporation’s shareholders, we would like to present our sincere gratitude to our shareholders for your continued support of our business.

During the first six months of the current fiscal year, economic and social activities gradually resumed in Japan as COVID-19-related restrictions were eased substantially, and a new post-pandemic era began. Restriction-free events were increasingly held, and the number of tourists from overseas rose substantially. However, commodity prices remained high due to rising resource and energy prices, caused by the prolonged conflict in Ukraine, following Russia’s invasion both in Japan and overseas. Moreover, fluctuating currencies resulting from monetary policies in the major countries affected economic conditions around the world, leading to a decline in consumer confidence in some countries and regions. As a result, the economic outlook remained unclear during the period under review.

Against this backdrop, we formulated a medium- to long-term vision for maintaining growth in a dramatically changing world. Based on this vision, we made improvements to our products, marketing strategies, manufacturing organization, and information systems. At the same time, we made some necessary investments and steadily strengthened the Company’s financial structure. We are also making improvements to our corporate governance system to speed up management decision-making and we have established organizations that can effectively respond to sudden changes in the markets. Guided by our purpose statement, Our Creations Inspire Creativity, we are determined to raise PILOT’s value going forward while continuing to meet stakeholders’ expectations. In closing, we humbly ask shareholders for their continued support and suggestions in the years to come.

September 2023

Shu Itoh
President & Representative Director