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

As we respond to changes in the business environment, we will steadily promote the Medium-Term Business Plan and make investments designed to deliver sustainable growth.

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 uncertain due to the COVID-19 pandemic and geopolitical risks such as the situation in Ukraine. In the domestic construction market, while demand stemming from large-scale redevelopment projects and the advancing trends toward digitalization and carbon neutrality remains steady, material and equipment costs are rising and must be appropriately addressed.

Under these conditions, the Kajima Group will work to improve the competitiveness of its domestic construction business and boost the profitability of the Group under the Kajima Group Medium-Term Business Plan (FY2021–2023). In addition, the Group has implemented measures and made investments for medium- to long-term growth.

In fiscal 2021, the first year of the plan, we achieved results that surpassed our annual target. Furthermore, we were able to increase stockholder returns and improve capital efficiency, based on our acquisition of ¥20 billion of our own stocks, and increased dividends for the second consecutive year.

In fiscal 2022, the second year of the medium-term business plan, we have verified the progress of each measure and taken the necessary steps in response to the changing business environment. We will continue to implement measures and promote investments in line with the plan to achieve our business targets and realize sustainable growth, even under highly uncertain business environments.

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

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