TO ALL INVESTORS

We at Tamagawa Holdings consider all of our shareholders not just as "shareholders" but as "partners." This reflects our commitment to the vision of revitalizing Japanese companies and society, and inviting you to participate in the management together. As a result, our major shareholders mainly consist of long-term investors.

Have you heard of "Berkshire Hathaway" before? It's an investment company led by the legendary investor, Warren Buffett. They are the largest shareholder of globally renowned companies such as Coca-Cola and American Express, and they also own the world's largest reinsurance company. Since Mr. Buffett took over the management of Berkshire Hathaway in 1962, while the New York Dow has risen about 1,400%, Berkshire Hathaway's stock price has surged over 820,000%.

Now, our main focus for the future business endeavors will be renewable energy. We already have operational power plants, but going forward, we plan to accelerate the construction of more solar power plants across Japan, all managed by our own company. As some of you might know, renewable energy sources like solar power come with a guaranteed fixed purchase price, promised by the government, for a long period of 20 years. This ensures a very stable cash flow business.

In order to elevate the corporate value of Tamagawa Holdings to greater heights, we will reinvest the cash flow into various promising businesses. This reinvestment will further enhance the added value of the businesses we are involved in and is expected to secure more efficient investment results. It's like a future-oriented investment fund, where we invest in promising businesses. Tamagawa Holdings aims to be like a Japanese version of Berkshire Hathaway and will be making investments in various businesses going forward.