The Student Formula Competition, modeled after the "Formula SAE" in the United States, is an event where students form teams to develop and manufacture formula-style small racing cars over the course of about a year. Through this process, students learn the essence of manufacturing and its processes, experiencing the challenges, excitement, and joy of creating. Matex agrees with this purpose and has become a sponsor of the competition starting this year. Additionally, we are sponsoring teams participating in the EV category, including those from the University of Tokyo, Aichi Institute of Technology, and Kanagawa Institute of Technology, by providing planetary gear systems. From September 6 (Tuesday) to 10 (Saturday), 2022, the on-site competition was held for the first time in three years at Ecopa (Ogasa Mountain Comprehensive Sports Park) in Shizuoka Prefecture. Matex also set up an exhibition booth and engaged in technical discussions with many participating teams, including those that adopted Matex planetary gear systems. We hope to continue supporting and encouraging the dreams of students in the future.

Our company president, Matoba, accompanied Prime Minister Abe on an official visit to President Duterte of the Philippines on January 12. At Malacañang Palace, he attended the Japan-Philippines Economic Conference and a welcome dinner hosted by the President. On the following day, January 13, he traveled to the President's hometown of Davao City on a government plane and engaged with the local business community. We will continue to strive to meet everyone's expectations, and we sincerely appreciate your support and encouragement.