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To Our Stockholders and Investors Hiromasa Amano President and Representative Director Kajima Corporation

We continue to seek sustainable growth by steadily carrying out measures set forth in the new Medium-Term Business Plan.

I would like to begin by expressing my sincere appreciation to all of Kajima’s stockholders and investors. Thank you for your unwavering support.

The global economic outlook remains unstable due to the impact of inflation and financial measures implemented in various countries. The domestic construction market has been enjoying strong demand due to robust public investments and increased private capital investments, but rising construction costs associated with demand increase and work-style reform, including compliance with the regulations on overtime work limits, must continue to be addressed appropriately.

Under these conditions, the Kajima Group has steadily implemented measures in accordance with the previous Medium-Term Business Plan, which ended in fiscal 2023, with the goal of improving the productivity and competitiveness of its domestic construction business while at the same time boosting the Group’s overall profitability.

As a result, the Group exceeded its business performance goals in each year of the Medium-Term Business Plan, allowing us to enhance stockholder returns by increasing dividends for the fourth consecutive year and repurchasing our own stock for the sixth year running. The Group was also able to steadily improve its management foundation to support further growth by implementing carbon neutrality measures as well as measures for strengthening human capital including the supply chain, promoting growth investments, and so on.

In fiscal 2024, the Kajima Group Medium-Term Business Plan (FY2024–2026) was formulated to set and achieve the Group’s future goal. In line with this plan, we will further strengthen our core businesses, take on the challenge of creating new value as a technology-driven company, contribute to society and customers through business activities, and seek realization of sustainable growth.

We ask for your continued understanding and support as we pursue these objectives.

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