Notice regarding the change of the fiscal year-end date of Hoshi and Electric Co., Ltd.
星和電機
We would like to inform you that at the board of directors meeting held today (December 27, 2019), it was resolved to change the fiscal year-end, conditional upon the approval of the "Partial Amendment to the Articles of Incorporation" at the 72nd Annual General Meeting of Shareholders scheduled for late June 2020. 1. Reason for the Change: Our business year runs from April 1 to March 31 of the following year. However, due to the nature of our information equipment and lighting equipment businesses, the period from January to March is a busy season each year. Therefore, we aim to mitigate the impact of seasonal factors on performance, improve operational efficiency, and enhance management transparency through timely and appropriate disclosure of management information by changing the fiscal year-end. 2. Details of the Change: Current: March 31 each year; After Change: December 31 each year. (Note) The 73rd fiscal year, which will be a transitional period for the change in fiscal year-end, is expected to be a nine-month period from April 1, 2020, to December 31, 2020. Additionally, we plan to implement similar changes for consolidated subsidiaries whose fiscal year-end is not December 31. For more details, please check our company website.
