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To Our Stakeholders
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Since its first fateful encounter with the Harmonic Drive®, the Harmonic Drive Systems Group has been dedicated to pursuing the infinite possibilities of these speed reducers.

In order to meet stringent market demands, our priority is to develop a more sophisticated Harmonic Drive® that is more compact and with higher torque. Furthermore, by merging our "mechatronics"; technologies that include motors, sensors and controllers, into our product development, we will be able to offer much more sophisticated "Total Motion Control" packages to the market.

As a group having technologies and expertise in the field of "Total Motion Control" that spans the globe, the Harmonic Drive Systems Group will strive to always meet the expectations and maintain the trust of its customers around the world.

•Promote Internationalization
Strengthening the ties that connect Japan, the United States and Europe, while keeping a close eye on the rapidly developing Far East and China, we will strive to grow and develop into a Group that is capable of achieving great success in the global market.

•Thorough Market-oriented Policy
Through our endeavors to further strengthen the technologies we have accumulated and nurtured through "applicable new products" and produce " developmental new products" created from new concepts and technologies, we will offer enhanced solutions to our customers and expand the applications of our products as well as their markets.

•Integrated Streamlined Production
The establishment of our integrated streamlined production system, a seamless process from order entry to shipment of the finished product, has enabled us to shorten delivery times, reduce inventory, and achieve even greater improvements in productivity.

•Maximize Cash Flow
In addition to achieving better results in P/L, we endeavor to maximize our cash flow, so as to set in place the evaluation of corporate performance based on cash flow.

•Strengthen Corporate Governance
In order to meet the expectations of all stakeholders, every effort will be made to improve the soundness and transparency of our management.

The Harmonic Drive Systems Group will continue its efforts to meet the expectations of all stakeholders by improving its corporate structure to assure stable earnings and cash flow in any environment.
We greatly appreciate your warm support and patronage.

Yours sincerely,

Mitsumasa Ito, Chairman and CEO
Masakatsu Sasahara, President and COO

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JASDAQJ STOCKSystem management attestationHarmonic Drive Systems Inc.
The academic and general nomenclature for "Harmonic Drive®" is "harmonic drive gearing". "Harmonic Drive®"is a registered trademark that can be used only on products which are manufactured and sold by Harmonic Drive Systems Inc.
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