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To Our Shareholders and Investors

Aiming to Increase Our Corporate Social Value through Sustainable Growth

I would like to take this opportunity to express my sincere gratitude to our shareholders and investors.

Tokyo Individualized Education Institute, Inc. (TIEI) celebrated its 30th anniversary in August 2015. I offer my heartfelt thanks to all of you who have supported us so far, including our shareholders as well as our more than 300,000 enrolled students and their parents or guardians. We will continue working to increase our corporate value to society based on the educational philosophy and high-quality educational services we have accumulated as a pioneer in individualized education since our founding in 1985.

Currently, TIEI is expanding its operations based on Dynamic Challenge 2017, a medium-term management plan for the period to February 2018. In the first year of the plan, which was the fiscal year ended February 2016, we achieved our fourth consecutive year of increases in sales and income, with an 8.8% year-on-year increase in net sales to ¥17,094 million, a 28.6% year-on-year increase in operating income to ¥2,217 million, a 28.6% year-on-year increase in ordinary income to ¥2,223 million and a 28.6% year-on-year increase in net income to ¥1,383 million. We opened seven new individualized instruction schools and the number of inquiries and new students both increased substantially due to strengthened marketing reforms and other factors.

As a result, the average number of students enrolled during the year reached a record high, and we were also able to end the year with strong performance from our seasonal short courses. Moreover, while we conducted measures such as aggressive advertising activities and classroom expansions and refurbishments to deal with the increase in the number of students, our pursuit of greater efficiency and rationalization in deploying costs also contributed to the substantial increase in profits.

In the fiscal year ending February 2017 and thereafter, we aim to achieve new record-high results based on the three growth strategies of our medium-term management plan Dynamic Challenge 2017: “Enhancement of educational capabilities,” “Urban area dominance strategy and service portfolio expansion” and “Collaboration with Benesse to increase added value.” In addition, we will aim to further increase our corporate value through sustainable growth.

We plan a ¥10 increase in our regular dividend per share from ¥16 to ¥26 for the fiscal year ending February 2017. This will be a payout even higher than the dividend for the previous fiscal year, which included a commemorative dividend for our 30th anniversary. We intend to work for the proactive return of profits to our shareholders, with a targeted payout ratio of 50% or higher.

All of us at TIEI will strive as one to create a stronger and more efficient management foundation and to carry out our medium-term management plan Dynamic Challenge 2017.

I sincerely request the continuing guidance and encouragement of our shareholders and investors in our future endeavors.

April 2016
Katsuki Saito
President and Representative Director

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