2015年版BUSINESS REPORT

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In recent years, owing to a consumption tax rate hike and other factors, the Japanese economy experienced falling consumer demand, but as Japan's monetary easing policy announced at the beginning of FY2013 began to take effect, the yen weakened and the stock market started rising, corporate prots improved, and a gradual economic recovery ensued.As a result, the market environment of Moritani & Co., Ltd. entered a gentle recovery trend, with the electric power transmission and transformation sector of the electric power industry showing an increase in maintenance projects and signs of recovery in other private-owned industries, the iron and steel industry beneting from increasing replacements of aging facilities to boost productivity, and the plant engineering industry experiencing increasing construction of LNG plants for Asia.Under these circumstances, Moritani has been following a management policy of promoting and further expanding business transactions with existing customers and suppliers, and creating new customers, while building a new business framework that utilizes investments and mergers to acquire new commercial rights.With the goal of becoming a "small engineering company" that works with customers to solve their problem according to their needs, Moritani aims to enhance the technical ability and mar-keting communication skills of each of our employees and to promote a business system that provides added value for our customers.Further, we work to build a sound operating foundation based on maintaining a high level of satisfaction among existing customers and developing new customers as a priority measure. As we pursue our vision, we are determined to contribute to the development of society and the preservation of the Earth’s environment.Message from the President2Message from the PresidentJune 30, 2015Hiroshi Kato, President & CEO

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