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CASIO COMPUTER CO., LTD. Company Profile Publication Date: 14 Mar 2011 www.datamonitor.com Europe, Middle East

CASIO COMPUTER CO., LTD.

Company Profile

Publication Date: 14 Mar 2011

www.datamonitor.com

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CASIO COMPUTER CO., LTD.

ABOUT DATAMONITOR

CASIO COMPUTER CO., LTD. ABOUT DATAMONITOR Datamonitor is a leading business information company specializing in industry

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CASIO COMPUTER CO., LTD.

TABLE OF CONTENTS

TABLE OF CONTENTS

CASIO COMPUTER CO., LTD. TABLE OF CONTENTS TABLE OF CONTENTS Company Overview 4 Key Facts 4

Company Overview

4

Key Facts

4

Business Description

5

History

6

Key Employees

8

Major Products and Services

9

Revenue Analysis

10

SWOT Analysis

11

Top Competitors

15

Company View

16

Locations and Subsidiaries

19

CASIO COMPUTER CO., LTD.

Company Overview

COMPANY OVERVIEW

CASIO COMPUTER CO., LTD. Company Overview COMPANY OVERVIEW CASIO COMPUTER (Casio or ‘ the company ’

CASIO COMPUTER (Casio or the company ) is engaged in manufacturing consumer products, timepieces, mobile network solutions, system equipment, and electronic components. The company operates in the Japan, North America, Europe and Asia. It is headquartered in Tokyo, Japan and employs about 12,247 people.

The company recorded revenues of JPY427,925 million ($4,613 million) during the financial year ended March 2010 (FY2010), a decrease of 17.4% compared to FY2009. The operating loss of the company was JPY29,309 million ($316 million) in FY2010, as compared to an operating profit of JPY4,016 million ($43.3 million) in FY2009. The net loss was JPY20,968 million ($226 million) in FY2010, as compared to a net loss of JPY23,149 million ($249.5 million) in FY2009.

KEY FACTS

Head Office

CASIO COMPUTER CO., LTD. 6-2 Hon-machi 1-chome Shibuya-ku Tokyo 151 8543 JPN

Phone

81 3 5334 4111

Fax

 

Web Address

http://www.casio.com

Revenue / turnover (JPY Mn)

427,925.0

Financial Year End

March

Employees

12,247

Tokyo Ticker

6952

CASIO COMPUTER CO., LTD.

Business Description

BUSINESS DESCRIPTION

COMPUTER CO., LTD. Business Description BUSINESS DESCRIPTION CASIO COMPUTER (Casio or ‘ the company ’ )

CASIO COMPUTER (Casio or the company ) is engaged in the manufacture and sale of electronic products. It operates in Japan, North America, Asia and Europe.

In FY2010, the company generated its revenues from two business segments: electronics; and electronic components and others. However, in April 2010, Casio restructured its businesses into three segments: consumer, system equipment, and others.

The consumer segment s product lineup ranges from digital cameras and electronic dictionaries, to a range of calculators for business and educational uses, label printers, as well as electronic musical instruments. It also offers digital watches, analog watches, and clocks.

The system equipment segment provides system equipment for business applications which include electronic cash registers, office computers, page printers and data projectors.

The others segment produces thin-film transistor liquid crystal display panels (TFT LCD) for mobile phones and bump processing consignments. It also offers molds.

CASIO COMPUTER CO., LTD.

History

HISTORY

CASIO COMPUTER CO., LTD. History HISTORY Casio traces its history to 1946 when Tadao Kashio founded

Casio traces its history to 1946 when Tadao Kashio founded the company Kashio Seisakujo. The company manufactured aircraft parts and began developing calculators during 1950s.

The launch of the initial Model 14-A, the first Japanese built electric calculator, was in 1957, which also marked the establishment of Casio Computer.

The new transistor based technology became popular in manufacturing calculators during 1960s and the calculators decreased to the desktop size. These products gained popularity in the US and Kashio began exporting to the US in 1970. In 1972, the company released the palm-size Casio Mini.

The digital technology that was made available through the development of calculators was applied to miniaturization of many other electronic gadgets and Casio moved into new sectors. In 1975, Casio released Casiotron, a digital watch capable of displaying the year, month, date, hour, minute and second. During mid 1970s Casio electronics started its subsidiary in the UK.

In 1980, the company launched Casiotone 201, an electronic musical instrument that produced sound generated by digital calculation. The pocket TV, thin card calculator and G-Shock range of watches followed three years later. During late 1980s, in response to the rising value of Yen and emerging competition from other Asian players, Casio moved its manufacturing to Taiwan, Hong Kong, South Korea, California, and Mexico.

Casio electronic devices segment was established in 1990, to manufacture and sell LCDs (Liquid Crystal Display) and chip-on-film components. A year later, the company purchased a stake in Asahi, a producer of communications equipment and light electrical appliances. Most of the remaining Japanese production was moved to Thailand and Malaysia in 1994 as a result of the strong Yen harming the company's export market.

Casio launched the world's first mass market digital camera in 1995, along with the Cassiopeia hand held-PC. Two years later, Casio moved in to the US pager market. This was soon followed by the formation of Casio Soft in 1998, a division created to develop software based on MS Windows CE for handheld PCs.

In 2000, the company launched the world's first wristwatch digital camera. A year later, Casio established its operations in Singapore. In 2002, Casio entered the European market with the establishment of operations in Germany.

Casio and Hitachi formed Casio Hitachi Mobile Communications, a joint venture founded to develop cellular phones in 2004. During the same year, the company developed its first lens using transparent ceramics, which enabled the creation of zoom lenses for cameras with reduced profiles.

CASIO COMPUTER CO., LTD.

History

CASIO COMPUTER CO., LTD. History Casio and HannStar Display signed a business co-operation agreement in 2005,

Casio and HannStar Display signed a business co-operation agreement in 2005, under which Casio would provide its Hyper Amorphous Silicon TFT-LCD (HAST-LCD) technology to HannStar, and in return, be granted priority in the purchase of HAST-LCDs produced by HannStar. In the same year, Casio and Renesas Technology collaborated on semiconductor device packaging technology.

Casio established Embedded Wafer Level Package consortium with CMK, as well as many other manufacturers in various fields including semiconductors, modules, sets, and facilities in 2006. Also during the same time, Casio and Qualcomm signed a 3G worldwide subscriber license agreement. The agreement granted Casio the right to use certain Qualcomm patented technology to manufacture and distribute 3G-standard handsets. Also, in 2006, the company established Casio Espana, a wholly owned subsidiary, responsible for sales and marketing of digital cameras and timepieces in Spain. Later that year, the company established Casio Latin America, a new subsidiary in Miami, Florida, in the US.

In 2007, Casio and NTT DoCoMo entered into an agreement to form a joint venture company to provide digital payment systems, mainly for DoCoMo's iD mobile credit-card platform, and related Customer Relationship Management services. In the same year, the company renamed its US subsidiary from Casio, Inc. to Casio America.

The company established a new subsidiary, Casio Mexico Marketing in Mexico in 2008. Later, in the same year, the company established a new subsidiary, LLC Casio, in Russia. The new subsidiary would be responsible for the sales and marketing of the product sectors of digital imaging, office and school equipment, timepiece, electronic musical instruments and professional visual products.

Casio announced the establishment of Casio Brasil Comercio De Produtos Eletronicos, its new sales subsidiary in Sao Paulo in Brazil in 2009. In addition, the company also set up its new subsidiary, Casio Italia, in Italy in the same year. Also, in 2009, Casio, NEC and Hitachi announced an agreement to integrate their mobile terminal businesses, through the establishment of a joint venture company, NEC CASIO Mobile Communications.

The company announced the spin-off of a division into a new company in 2009. The new company would be engaged in research, development, manufacturing and sale of organic emitting display and liquid crystal display. After the spin-off, Casio would sell 80% stake of the new company's stock to Toppan Printing, engaged in general publishing business in Tokyo, Japan.

Casio announced the merger of its subsidiary, Casio Hitachi Mobile Communications, with NEC s wholly owned subsidiary in March 2010. After the transaction, Casio Hitachi Mobile Communications dissolved, effective May 2010. However, the merger was postponed.

In January 2011, Casio developed a watch equipped with Bluetooth Low Energy Wireless Technology, a new technology for short-range communication. In the same month, the company launched Imaging Square, an online service that would enable users to transform their prized photos into compelling pieces of artwork.

CASIO COMPUTER CO., LTD.

Key Employees

KEY EMPLOYEES

CASIO COMPUTER CO., LTD. Key Employees KEY EMPLOYEES Name Job Title Board Kazuo Kashio President and

Name

Job Title

Board

Kazuo Kashio

President and Chief Executive Officer

Executive Board

Yukio Kashio

Executive Vice President and Representative Director

Executive Board

Fumitsune Murakami

Senior Managing Director

Executive Board

Takatoshi Yamamoto

Managing Director

Executive Board

Akinori Takagi

Managing Director

Executive Board

Hiroshi Nakamura

Managing Director

Executive Board

Akira Kashio

Managing Director

Executive Board

Toshio Kashio

Chairman and Representative Director

Non Executive Board

Tadashi Takasu

Director

Non Executive Board

Susumu Takashima

Director

Non Executive Board

Kouichi Takeichi

Director

Non Executive Board

Yuichi Masuda

Director

Non Executive Board

Osamu Ohno

Corporate Officer

Senior Management

Atsushi Yazawa

Corporate Officer

Senior Management

Kazuhiro Kashio

Corporate Officer

Senior Management

Nobuyuki Mochinaga

Corporate Officer

Senior Management

Koji Moriya

Corporate Officer

Senior Management

Hitoshi Nakamura

Corporate Officer

Senior Management

Tetsuo Kashio

Corporate Officer

Senior Management

Toshiharu Okimuro

Corporate Officer

Senior Management

Hideyuki Toyama

Corporate Officer

Senior Management

Tetsuro Izumi

Corporate Officer

Senior Management

Takashi Kashio

Corporate Officer

Senior Management

Jin Nakayama

Corporate Officer

Senior Management

Shin Takano

Corporate Officer

Senior Management

CASIO COMPUTER CO., LTD.

Major Products and Services

CASIO COMPUTER CO., LTD. Major Products and Services MAJOR PRODUCTS AND SERVICES CASIO COMPUTER is engaged

MAJOR PRODUCTS AND SERVICES

CASIO COMPUTER is engaged in manufacturing consumer products, timepieces, mobile network solutions, system equipment, and electronic components. The company's key products include the following:

Consumer:

Electronic calculators Electronic dictionaries Label printers Digital cameras Electronic musical instruments Digital watches Analog watches Clocks

System equipment:

Electronic cash registers (including POS) Office computers Page printers Data projectors Handy terminals

Others:

LCDs Bump processing consignments Molds

CASIO COMPUTER CO., LTD.

Revenue Analysis

REVENUE ANALYSIS

CASIO COMPUTER CO., LTD. Revenue Analysis REVENUE ANALYSIS Casio recorded revenues of JPY427,925 million ($4,613 million)

Casio recorded revenues of JPY427,925 million ($4,613 million) during FY2010, a decrease of 17.4% compared to FY2009. For FY2010, Japan, the company's largest geographic market, accounted for 71.9% of the total revenues.

In FY2010, the company generated revenues through two business segments: electronics (88.9%) and electronic components and others (11.1%). However, in April 2010, Casio restructured its businesses into three segments: consumer, system equipment, and others.

Revenues by segment*

In FY2010, the electronics segment recorded revenues of JPY380,590 million ($4,102.8 million), a decrease of 17.6% compared to FY2009.

The electronic components and others segment recorded revenues of JPY47,335 million ($510.3 million) in FY2010, a decrease of 15.7% compared to FY2009.

Revenues by geography*

Japan, Casio's largest geographical market, accounted for 71.9% of the total revenues in FY2010. Revenues from Japan reached JPY307,488 million ($3,314.7 million) in FY2010, a decrease of 20% compared to FY2009.

Europe accounted for 13.9% of the total revenues in FY2010. Revenues from Europe reached JPY59,373 million ($640 million) in FY2010, a decrease of 12.7% compared to FY2009.

Americas accounted for 8.2% of the total revenues in FY2010. Revenues from Americas reached JPY35,047 million ($377.8 million) in FY2010, a decrease of 15.5% compared to FY2009.

Asia accounted for 6.1% of the total revenues in FY2010. Revenues from Asia reached JPY26,017 million ($280.5 million) in FY2010, an increase of 7.2% over FY2009.

*Percentages are rounded off.

CASIO COMPUTER CO., LTD.

SWOT Analysis

SWOT ANALYSIS

CASIO COMPUTER CO., LTD. SWOT Analysis SWOT ANALYSIS CASIO COMPUTER (Casio or ‘ the company ’

CASIO COMPUTER (Casio or the company ) is engaged in manufacturing consumer products, timepieces, mobile network solutions, system equipment, and electronic components. The company has broad product portfolio in the electronic industry, which helps Casio to cater to diversified customers and also insulates the company from the demand fluctuations for its products in the market. However, intense competition could adversely affect the company's prices and profit margins and also erodes the company's market share in the global electronics market.

Strengths

Weaknesses

Broad product portfolio caters to large number of customers Strong brand recognition

Weakening financial performance Excessive dependence on Japan

Opportunities

Threats

Initiatives to boosts sales through geographic expansion Strategic alliance Positive outlook for the mobile phone market

Intense competition Slow growth of Japanese consumer electronics market

Strengths

Broad product portfolio caters to large number of customers

Casio offers broad product portfolio in the electronic industry. The company's products are distributed across three segments which include consumer, system equipment, and others.

The consumer segment s product lineup ranges from digital cameras and electronic dictionaries, to a range of calculators for business and educational uses, label printers, as well as electronic musical instruments. It also offers digital watches, analog watches, and clocks. The system equipment segment provides system equipment for business applications which include electronic cash registers, office computers, page printers and data projectors. The company s others segment produces thin-film transistor liquid crystal display panels (TFT LCD) for mobile phones and bump processing consignments. It also offers molds.

Diverse product portfolio enables Casio to stabilize its earnings and consistently strengthen its market position through wider customer reach. Additionally, it allows the company to address multiple

CASIO COMPUTER CO., LTD.

SWOT Analysis

CASIO COMPUTER CO., LTD. SWOT Analysis customer segments, apart from insulating it from any significant fall

customer segments, apart from insulating it from any significant fall in demand for any specific product or segment.

Strong brand recognition

Casio has established a strong brand image in the electronics market. The company markets its calculators and other consumer electronic products under the Casio brand name. Casio's Oceanus, G-Shock and Baby-G watch brands have high customer recognition and loyalty. Similarly, Casio has a very strong foothold in the digital camera products market, wherein the company offers digital camera sub-genres, including super-slim card-sized cameras and ultra high-speed cameras. According to Interbrand, the world's leading brand consultancy, Casio was ranked among the top 30 Japan's best global brands in 2010 with brand value of $532 million.

The company's strong brand value facilitates customer recall and allows Casio to penetrate new markets as well as consolidate its presence in the existing ones.

Weaknesses

Weakening financial performance

Casio recorded declining efficiency in FY2010. The revenues of the company declined at a compound annual rate of change (CARC) of 17% from JPY623,050 million ($6,716.5 million) in FY2008 to JPY427,925 million ($4,613 million) in FY2010. Moreover, it registered decline in revenue in its key segments. For example, revenue from electronics, the company s largest business segment that accounted for 88.9% of the total revenues in FY2010, reached JPY380,590 million ($4,102.8 million), a decrease of 17.6% compared to FY2009. Further, revenues from electronic components and others segment declined by 15.7%. In addition, Casio has recorded decline in revenue from all its key markets. Revenue from Japan declined by 20%, Europe by 12.7%, and Americas by 15.5%.

The profitability position of Casio also declined significantly. The company recorded an operating loss of JPY29,309 million ($316 million) in FY2010, as compared to an operating profit of JPY37,753 million ($407 million) in FY2008. The net loss was JPY20,968 million ($226 million) in FY2010, as compared to a net loss of JPY12,188 million ($131.4 million) in FY2008. Further, the operating profit margin of the company declined from 6% in FY2008 to -6.8% in FY2010; and net profit margins declined from 1.9% in FY2008 to -4.9% in FY2010. Continuation of this trend would strain the financial position of the company and would also hamper its growth plans.

Excessive dependence on Japan

The company's operations are highly concentrated in Japan, its domestic market. For FY2010, Japan, the company's largest geographic market, accounted for 71.9% of the total revenues. High dependence on the Japanese market makes the company highly sensitive to the demand dynamics of this region and restricts its property and income growth to the local economy. As a result the

CASIO COMPUTER CO., LTD.

SWOT Analysis

CASIO COMPUTER CO., LTD. SWOT Analysis company is also exposed to risks associated with the economy,

company is also exposed to risks associated with the economy, while its competitors with significant operations in other countries are guarded against such a risk.

Opportunities

Initiatives to boosts sales through geographic expansion

The company has taken several initiatives to expand its sales and marketing activities across various geographic regions in the recent past. For instance, it established a new subsidiary, Casio Mexico Marketing, in Mexico to expand Casio's sales in Latin American market. Further, the company established another subsidiary, LLC Casio, in Russia. The new subsidiary is responsible for the sales and marketing of the product sectors of digital imaging, office and school equipment, timepiece, electronic musical instruments and professional visual products in the region. In addition to that, the company set up a new subsidiary, Brasil Comercio De Produtos Eletronicos, in Brazil to further strengthen its sales operations in the Latin America, in 2009. Furthermore, in 2009, the company started its new subsidiary, Casio Italia, in Italy. The new subsidiary is responsible for the sales and marketing of Casio digital cameras, electronic musical instruments as well as office and school equipments.

The company's expansion across geographies would enable it to reap benefits of the wider customer reach and allow it to boost its topline growth.

Strategic alliance

Casio entered into a strategic alliance with NEC and Hitachi in FY2009. Under the terms of agreement, these companies would integrate their mobile terminal businesses through the establishment of a joint venture company, NEC CASIO Mobile Communications. The companies would integrate their mobile terminal business in order to strengthen both domestic and international business while increasing competitive strength through achieving synergies in a variety of fields, including sales expansion, procurement and customer service, and reinforcing product development by unifying technological assets, know-how and resources. As per the agreement, Casio would hold 17.34% in the share capital in the newly formed joint venture. This alliance would help the company to further enhance its mobile terminal offerings and create a new source of revenue.

Positive outlook for the mobile phone market

The mobile phone market is witnessing strong growth. According to Datamonitor's report on Global Mobile Phones, the global mobile phones market generated total revenues of $101 billion in 2008, representing a compound annual growth rate (CAGR) of 12.2% for the period spanning 2004-08. The market consumption volumes increased with a CAGR of 16.9% during the period, to reach a total of 945 million units in 2008. The performance of the market is forecast to improve further and drive the market to a value of $156.9 billion by the end of 2013.

CASIO COMPUTER CO., LTD.

SWOT Analysis

CASIO COMPUTER CO., LTD. SWOT Analysis Casio manufactures cellular phones and other mobile devices through its

Casio manufactures cellular phones and other mobile devices through its mobile network solutions segment. The company also offers handy terminals and other mobile terminals, as well as the solutions made possible by these technologies.The company is hence well poised to take advantage of expanded line up and increasing sales of mobile phones.

Threats

Intense competition

The company operates in highly competitive market. The company faces strong competition from other international electronics firms like Panasonic, Sharp and Sony. These companies have large markets outside Japan. Additionally they also have larger research and development facilities as well as a wider distribution network. Intense competition from these and other smaller players could adversely affect the company's prices and profit margins and also erodes the company's market share in the global electronics market.

Slow growth of Japanese consumer electronics market

The Japanese consumer electronics market is growing at a very slow pace. According to Datamonitor's report, Consumer Electronics in Japan, the market grew at a CAGR 4.5% during 2005-09, to reach a value of $22.3 billion in 2009. However, the performance of the market is forecast to decelerate, with an anticipated CAGR of 1.3% for the five-year period spanning 2009-14, which is expected to lead the market to a value of $23.8 billion by the end of 2014.

Japan is Casio's most important markets, the company generates majority of its revenue from the region. In FY2010, Japan accounted for 71.9% of its total revenue. The company sells a wide range of consumer electronics in Japan including, electronic calculators, electronic dictionaries, label printers, digital cameras and electronic musical instruments. Therefore, slow growth of consumer electronics in Japan is likely to have a negative impact on its financial performance.

CASIO COMPUTER CO., LTD.

Top Competitors

TOP COMPETITORS

CASIO COMPUTER CO., LTD. Top Competitors TOP COMPETITORS The following companies are the major competitors of

The following companies are the major competitors of CASIO COMPUTER CO., LTD.

Sharp Corporation Sony Corporation Panasonic Corporation

CASIO COMPUTER CO., LTD.

Company View

COMPANY VIEW

CASIO COMPUTER CO., LTD. Company View COMPANY VIEW A statement by Kazuo Kashio, the President and

A statement by Kazuo Kashio, the President and Chief Executive Officer at CASIO COMPUTER is

given below. The statement has been taken from the company s 2010 annual report.

During fiscal 2010, ended March 31, 2010, the Japanese and global economies pulled out of the worst phase of the global recession and began to show signs of a gradual recovery, yet the outlook remains uncertain.

In this environment, consolidated net sales for fiscal 2010 fell 17.4% year-on-year to ¥427.9 billion.

By segment, sales dropped 17.6% to ¥380.5 billion in the Electronics segment. The digital camera business was a strong performer in the Japanese market, as Casio launched a total of 14 new models, including the Exilim ZOOM EX-Z2000, which comes with an even more advanced version

of Casio s Dynamic Photo function for combining moving images right on the camera. Sales in

markets outside of Japan languished in the first half of the fiscal year, but improved significantly in the second half, particularly in Europe and China. In the electronic dictionary business, sales of the EX-word series, which now features color LCD screens and completely updated flagship models, were firm, and Casio kept its top share of the market. In the timepieces business, sales of non-radio controlled watches were affected by the harsh market environment in the first half, but sales of radio-controlled watches were strong, particularly Casios high value-added brands such as G-Shock, Oceanus, and Edifice. In the cell phone business, Casio released a total of seven new models, including the Exilim keitai CA003 for au, which is equipped with a variety of digital camera functions including high-speed burst shooting and the Dynamic Photo function. Also newly released was the

G zOne ROCK, a waterproof, shock-resistant cell phone for US-based Verizon Wireless. Sales

lagged in the Japanese market, failing to recover from the unexpected decline in market share at

the end of the second quarter. Sales in markets outside of Japan were also hurt by the postponement

of the launch of a new model for Verizon Wireless. As a result of these factors, sales were sharply

down in the cell phone business.

Sales in the Electronic Components and Others segment fell 15.7% to ¥47.3 billion. This was because sales in Electronic Components were down due to the impact of sluggish demand for digital cameras and cell phones, as well as lower unit prices for TFT LCDs.

In income for fiscal 2010, the Electronics segment posted a ¥19.9 billion operating loss, primarily due to the sharp decline in sales of cell phones. However, timepieces and electronic dictionaries remained highly profitable, and the profitability of digital cameras steadily improved from the second half. The Electronic Components and Others segment recorded a ¥4.8 billion operating loss. As a result, Casio posted a total consolidated operating loss of ¥29.3 billion, allowing for elimination or unallocated amounts. Casio also posted a net loss of ¥20.9 billion for the fiscal year.

A dividend of ¥15 per share has been paid for the reporting term.

CASIO COMPUTER CO., LTD.

© Datamonitor

Page 16

CASIO COMPUTER CO., LTD.

Company View

CASIO COMPUTER CO., LTD. Company View Casio will confront today ’ s unpredictable business environment with

Casio will confront today s unpredictable business environment with a proactive global strategy that will raise earnings substantially. This strategy is based on popularizing new products that leverage Casio s original, global-standard technology. The main strategies are outlined below.

In the digital camera business, Casio will work to expand sales in Europe and China, and aggressively launch new products equipped with cutting-edge technology that combines GPS with motion sensors.

Casio intends its new business in Digital Art Frames and Art Clocks to contribute quickly to overall performance and aims to expand this new business. In addition, the company will drive a transformation from stand-alone units to full-featured main products with Internet connectivity.

Casio will further expand its timepiece business by reinforcing the G-Shock brand with aggressive promotions in global markets and expanding its lineup of radio-controlled analog products for women.

In the electronic dictionary business, Casio will work to become the top brand in the global education market by maintaining its top market share and high profitability in the Japanese market, and actively building up sales in the Chinese market by launching color models and expanding the target market.

Casio will merge its cell phone business and TFT LCD business with other companies as planned to launch its global expansion on a full scale. This will capitalize on each company s strengths to create synergies that will result in a stable business structure.

Medium- and Long-Term Management Strategy

To achieve continuous growth in corporate value despite today s difficult economic environment, Casio is improving global cost competitiveness in every business to build a robust earnings base that will allow the company to secure high profits, while also strengthening its financial structure. Casio also firmly recognizes that better performance in the area of corporate social responsibility is an important issue. To achieve these aims, Casio is working as one to execute the following strategies.

1. Creating New Genres

Casio will develop new product genres that generate high profitability in each business. This will be accomplished by integrating Casios unique technology with its product planning skills, which pinpoint the market s changing needs.

2. Creating New Strategic Businesses

In the past, Casio has drawn on unique ideas and advanced technology to bring the world a range of exciting new products. To achieve steady growth in the future, Casio is determined not only to succeed in existing businesses, but also to create value in new business fields which leverage Casio technologies that cannot be imitated by other companies. In order to achieve this, Casio will focus its management resources on new business fields even more than in the past, with the aim of quickly establishing businesses that can realize a stable, highly profitable structure.

CASIO COMPUTER CO., LTD.

Company View

3. Strengthening the Financial Structure

LTD. Company View 3. Strengthening the Financial Structure Casio is moving ahead strongly with improvements in

Casio is moving ahead strongly with improvements in its equity ratio and debt/equity ratio with the aim of strengthening its financial foundations for future growth. The uncertainty in the outlook for financial conditions in the market today has reaffirmed Casio s conviction that securing financial liquidity is a key financial priority for the growth funds needed for future business expansion and future repayment of interest-bearing liabilities. Accordingly, Casio will flexibly adapt as it monitors changes in the external environment.

In the future, the company will continue to pursue even more thoroughly efficient cash flow management and strive to generate free cash flow, aiming to build a completely strong, stable financial structure.

4. CSR-focused Management

Casio understands that sustainable corporate growth will only come about with the preservation of global environment and development of society, and is actively managing its corporate social responsibility.

Based on the Charter of Creativity for Casio, which articulates the code of conduct for employees, Casio is striving to improve corporate governance and compliance by ensuring that all employees and officers understand and comply with laws and regulations, maintain social order, and contribute to society.

Through the execution of the four strategies described above, Casio seeks to deliver original products and services with high added value, increase corporate value, and contribute to the building of a society of abundant creativity.

Since Casio s foundation, its corporate creed has been Creativity and Contribution.Casio s mission is to pursue growth as a company and increase corporate value by contributing to society. The company is accomplishing this by introducing innovative ideas going from 0 to 1, and outstanding solutions based on its proprietary advanced technologies.

Casio will continue to deliver the values of function, quality, economy, speed, productivity, ethics, safety, and compatibility with the environment in its products and services. In the months and years ahead, the company looks forward to providing all of its stakeholders with more excitement than they anticipate, and greater inspiration than ever before.

We ask all our shareholders and investors to continue their support.

CASIO COMPUTER CO., LTD.

Locations and Subsidiaries

LOCATIONS AND SUBSIDIARIES

Head Office

CASIO COMPUTER CO., LTD. 6-2 Hon-machi 1-chome Shibuya-ku Tokyo 151 8543 JPN P:81 3 5334 4111 http://www.casio.com

Other Locations and Subsidiaries

4111 http://www.casio.com Other Locations and Subsidiaries Casio Canada Ltd. Casio America, Inc. 141

Casio Canada Ltd.

Casio America, Inc.

141

McPherson Street

570

Mount Pleasant Avenue

Markham Ontario, L3R 3L3 CAN

Dover New Jersey 07801 USA

Casio (Shanghai) Co., Ltd. Tower A 10/F, Shanghai City Center 100Zunyi Road, Changning District Shanghai 200051 CHN

Casio France S.A. 24, rue Emile Baudot 91120 Palaiseau FRA

Casio Europe GmbH Casio-Platz 1 22848 Norderstedt DEU

Casio Electronics Co., Ltd. Unit 6 1000 North Circular Road London NW2 7JD GBR

Casio Benelux B.V. Prof. W.H. Keesomlaan 6E 1183DJ Amstelveen NLD

Casio Brasil Comercio De Produtos Eletronicos Ltda. Rua Leoncio de Carvalho, 234 Cj.91/92 CEP 04003-010 Paraiso, Sao Paulo BRA

Casio India Co., Pvt. Ltd.

Casio Singapore Pte., Ltd.

210

(First Floor)

210

Middle Road, 10-08 IOI Plaza

Okhla Industrial Estate Phase III New Delhi 110020 IND

Singapore 188994 SGP