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To Our Shareholders and Investors Yoshikazu Oshimi President and Representative Director Kajima Corporation

Achieving sustainable growth by proactively delivering on every element of our new Medium-Term Business Plan

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

Although political and economic uncertainties persist in the global economy, many countries and regions are now seeing more positive business conditions. In Japan too, we expect steady growth to continue as robust external demand and other factors boost corporate income, capital investment increases, and the employment environment improves.

The Kajima Group made a collective effort to push ahead with measures detailed in the final year of the Medium-Term Business Plan for fiscal 2015 to 2017. Our persistent efforts, together with a stable business environment, delivered financial results exceeding our targets in every fiscal year from 2015 to 2017.

This year, we launched the new Kajima Group Medium-Term Business Plan (FY2018-2020), under which we are aiming to realize sustainable growth while also addressing environmental, social and governance (ESG) performance. Based on the new plan, we are determined to enhance the Kajima Group’s value to society as we steadily advance initiatives to further improve productivity and create an attractive work environment, while at the same time investing to diversify revenue streams and taking steps to strengthen group-wide management platforms.

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

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