edible oil, there is no contract in the 1st quarter of 2019. The Company terminated contract with the both customers on May 2018, and September 2018 because they breached the agreements. 1.3 Sea Freight

. Buying the Medical Instruments The Company will appropriately make a purchase from distributors The Company anticipates that after all the conditions precedent specified in the related agreements have been

(1%) Current portion of long-term loans from financial institutions 156 190 (18%) Current portion of liabilities under financial lease agreements 32 33 (4%) Other non-current liabilities 362 349 3.6

Equity ratio2 stood at 0.92 times as of 30 June 2019, decreased from 0.94 times as at end of 2018 1 Backlog include only sold units with sales and purchase agreements 2 Calculated from interest-bearing

distributors The Company anticipates that after all the conditions precedent specified in the related agreements have been satisfied with the Notification of the Capital Market Subsidiary Board No. Torchor 21

-30% Current portion of long-term loans 242 128 +89% Current portion of liabilities under financial lease agreements 38 40 -3% Other non-current liabilities 282 342 -17% Total Current Liabilities 2,455

of changes in this report are based on the adjusted accounting policy and reclassification 1 Backlog include only sold units with sales and purchase agreements 2 Calculated from interest-bearing debt

accounting policy and reclassification  1 Backlog include only sold units with sales and purchase agreements Management Discussion & Analysis ( - translation - ) For operating result of 4Q/2019, ended 31

%) Current portion of long-term loans from financial institutions 143 190 (25%) Current portion of liabilities under financial lease agreements 38 33 15.6% Other non-current liabilities 361 403 (10%) Total

in liabilities under lease agreements and (2) a decrease in cash and cash equivalents. The debt-to-equity ratio increase to 1.11 at 31 March 2020 compared to 0.43 at the end of 2019. This increase was