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Letter to Shareholders

Shigeyoshi Kinoshita, Chairman, President & CEO, ACOM CO., LTD.

Shigeyoshi Kinoshita
Chairman, President & CEO
ACOM CO., LTD.

I would like to express my sincere gratitude to all ACOM stakeholders for your continuous patronage to the Group.

With regard to the competitive environment of domestic personal card loan market, market continues to grow smoothly. However, the nature of competitive environment has changed. The market now involves diverse players irrespective of industry, as shown by further intensified promotion strategies taken by players from both bank and nonbank sectors.

Nonbank sector is still in an adverse environment. Although the requests for interest repayment is in a decreasing trend, it still remained at a high level.

In such an environment, under its management vision of “strive to become the leading company in personal loan market which provides prime satisfaction to utmost number of customers and win their trust in return,” the Company Group has strived to increase market shares in the domestic personal card loan market.

Scales of group’s core three businesses, loan & credit card business, guarantee business and overseas financial business, are expanding smoothly on the whole in the six months ended September 30, 2016. With regard to performance of the Company Group, the operating revenue increased by 2.2% year-on-year to 121.0 billion yen. The operating income increased by 3.7% year-on-year to 38.2 billion yen while ordinary income increased by 3.5% year-on-year to 38.4 billion yen. The profit attributable to owners of parent saw increase of 6.2% year-on-year to 35.9 billion yen.

I had taken duly consideration on present circumstances where the number of requests for interest repayment trending above our initial forecast. It is with my sincere regret to inform you I decided not to make interim dividend as I have announced earlier.

We plan to resume dividend payment as soon as we can conclude that we are free of uncertainty of requests for interest repayment in the future, in addition to indisputable continuous and stable growths in three core businesses. I would like to humbly request your understanding on the matter.

We will endeavor to meet stakeholders’ expectations and become a corporate group that contributes to society as we keep close cooperation with MUFG Group.

I humbly ask for your ongoing support as we embrace the challenges for the future.

SHIGEYOSHI KINOSHITA

Shigeyoshi Kinoshita
Chairman, President & CEO
ACOM CO., LTD.

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