KEL CORPORATION

The business described in this report operates as a single segment, primarily engaged in the manufacture and sale of connectors, racks and harnesses. It maintains manufacturing and sales bases in Japan and overseas, with expanding overseas sales as a key strategic priority. Through the development of new products and technologies and the strengthening of supply capacity, the Company is expanding its business scope in markets including industrial equipment, automotive equipment, imaging equipment and medical equipment. As the first phase of its medium-term management plan, KEL VISION 2030, it is pursuing overseas expansion and an enhanced lineup of value-added products. Sustainability initiatives are being pursued as an integral part of the management strategy, addressing environmental, social and governance matters identified as material issues. Notable business events include the recognition of costs related to quality defect countermeasures, cost impacts from delays in the start of mass production, the establishment of and investment in domestic and overseas bases, and product development investments.