Japan's Largest System Integrator Secom Profile

********

******* ******** ********** $** ******* *** ** ****** capitalization************ ~$* ******* *** (**** ****** based ** ******** **** ***********) ** revenue * ****. *******, **% ** *** ******* is **** ****** *****, *** ** average, ** *** **** ******* ****** at ~*.*% ** ******* * **** for *** **** ******. *** ********* profit ****** *** **** ****** ** ~13% ** *** **** * *****.

******* *** ****** $*** ******* *** investment ** ***** *** *** *****, ***** ** ************ *** ******** in ******** ** * ********* ******** market **** *****'* ********** *******.

Secom's *********/**** *** *********** *********

***** **** **** ** ***** ** the ******** ** *****'* ****** *********** market. *** *** ********** ******* (***** ********), *************** ****** ************ ******* ** ************* **** ** Secom's. *** **** ** *** ****** is **** ** ** ******* *********** whose ***** *** **** **** *% of *****.

*** ******* ******* ** "******" ******** under *** ******* ** ****** * "Social ****** ********" **** **** **+ years ***. ***** **** **** **** the ******** ** *** ******** *** rather * ******* **** ******** "***** of ****," *** ******* ** "******" in ********, ** *******.

**% ** *****'* ******** ** ** security ********, ***** **% ** ** fire **********. *** **** ** *** business ***** *******, *********, ********** ***********, BPO & *** (******** ******* *********** and **-******* ********), **** ******, *** others. *** *** ******** ******** ******, the ******** ** *** ******* ** recurring, **** ********* ******, **** ** the *** ******** *********** **** ** Secom:

** ******* ** *** ******** ******** which ******** ** **% ** *** revenue. *** ********, **** ****, *** [sales] ********** ** ****** **** ********* [revenue].

***** *** **,*** ********* *********, ********* its * ***********, **** ******** ****** subsidiaries ** ****** *** ***** *****. Secom **** **** ************ **** ** more **** **% ** *** ****** share ** ***** ********** ******.

Midterm *******

***** ********* *** ******* ******** *** slightly ****** *** ****** ******** **** down ***** **** ****** ********* *** **** ****** ***** **, 2023. ** *** **** **** *****, Secom ******** * *.**% ****** ****** rate ***** ***** **, ****. ** also ******* ** ******** *** ********* profit ****** ** *** **** ***** it *** **** ********* ** *** past ******.

International *********

**** *****'* ******* ******* ** **********, Secom **** ** ***** ** ****** its ******** ***** **** **** **** 5% ** **** **% ** *** 2022 ****** ******:

****Japan’s ********** ******** ** ******** ********* over the long term, we believe that strengthening our operations in promising overseas markets is essential to ensuring sustainable growth going forward. As a first step, we will strive ** ***** ************ *** ***** *** ********* ******* ********* ******** ** **% ** **** of the consolidated total. [Emphasis added]

** *** ********* [...] ** ********* greater ********* ** *** ***** ***** in ******** *******.

******* **** ****** ******** ******* **** South ***** *** ******, **** ** Secom's ******** ****** *********** ******** ********* Japanese *********' ******** ********, ************ ****, *****'* ******** ********* ******* *** head ** *** ************* ******** ********. He **** ********* **** *****'* **** expansion ******* ** ** ****, ********** on ******** *** ***** **** ** developing ***** ********* **** ** ******:

** *** ******** ** *** **** market. ** *****, ** [*****] *****, in ******, ** *** ****** ***, the ******** ******. [** ****] ***** 55% ** **% ****** ***** [** these *******]. ** ******* ******** ** China *** ***** ***** *********. *** latest *** ** ******, ** ****.

**** ** *** ********. * ***** saybecause **** ******** ********* [******] *** **** ***** ********* [**] **** ** **** * *** ** ******** **** ***** [****], but at the same time, we try to invest more in a growing country, like Turkey. [Emphasis added]

** *** ** ********** ** *****'* core ****** *********** ********, *** ******* is **** ************ *** ******** ***** through ******** ********** **********. *** *** business *********** **** *** *********** *** this *******, ********* ** *****'* **** annual ******:

** ******** *** ********* ** *** overseas **********, ** **** *********** * new ******** *********** **** **** ** tasked **** ****** *** ********** ** exploring ******** ********* *** *&* *********.

Eagle *** *** ***** **********

********* *** ******** ************,***** ******** $*** ******* ** ***** Eye *** ***** ******* **** ****. **** ****** **** ********* *** privately ***** *** **** ** *** publicly ******** ***** *********, *******, *** profits, ***** *********** *****, *** ********* **** ** projects *** ******** ******** ** * service ******** ** **** **% ******** for *** **** ******* *****.

******, *****'* **** ** *** *** business *********** ****, ********* ** **** the *******'* ********** ********* *** *** it ** ********** **** *** *** companies *** ******* ********** ****** ******** to ***** ******** ******* ********** **** specific *******:

**** *** ***** ******** ** *** stage *** **** *** *** **** small * *******. **** **** **** around *** **** **** ** *****.We *** *** ****** **** ** ****** *** **** ***** **** but of course, we used 3rd party valuation companies to do the valuation. We took into account the reasonable growth potential in it. I think their projection seems to us quite reasonable. [Emphasis added]

** ********. [**] **** ***, *****[***** Eye *** *****'*] ****** ** *** future.

****** **** ********* **** ***** **** not **** ** ******** ****** ** Eagle *** *** *****'* **********:

We *** *** ***** ** *************** ***** *** *********. We respect all the capabilities of these two companies' management people. As a strategic investor, we are ready for providing the necessary support for them to grow internationally. [Emphasis added]

***** *** ** ******** ******** ***** for **** ********** ** ****, ****** said:

******** *** ******, *** ** **** moment, **'** *** ******* *** *** actual **** *******. **'** *** ******* capital.

Limited *********** ******* ***** *** ***** *** / *****

***** ***** ** ****** ***** *** and ***** ******* *** ****** *********** business ****** ****, **** **** ********, the *******'* *** ******** *********** **** associate :

***** *** *** ** **** ********** companies [** ***** *** *** *****] in ***** *********. ** ** *** export ***** ******** ** ******** ** their *** ****, *** ********* [***** markets ******* ** *****].

*******, ***** ***** **** *** *********** system ** *****, ******* ***** *** and ***** ** ***** ** *** its *** ****, **** ********* ******, vice ********* ** *** *** ******** development **** ** *****:

*** ********* ****** ** * ****** bit ********* ******* ***** *** ******* of *****.In *****, ** ********* *** ******, from the alarm panel, around software, everything we developed by ourselves, so it's quite tough to use, it's *** ** **** ** *** *****-***** ******** ** *** ********* [** *****]. [Emphasis added]

** ********, *****'* **** ** *** Business *********** **** ****** **** *** company ** *** *********** ***** *** and ***** ** *****:

*** ********** ** *** *** ******** business ** ****. ** ***'* ****** to ********* ******** *** ***** ** Japan *********.

**** ********* *** ***** ***** ************ in *** ***** ***** ************ ******** or *** ****** ******* ********, *** we ***'* **** *** ********* ** replicate ** ** * ******* ******* in ***** ** **** ******.

****** ***** **** ***** *** **** serving ** * ******** *** ***** Eye ** **** ** *** ******** markets ** ****, *** *** ** Brivo ***** ** ***:

*** *** **** ***** ***** [** have ****] * **** ** ********* reseller. ** **** *********, ** *** setting ** ***** *** ******* ********* to *** *****.

** ***'* **** *** ****** ******* with ***** ** **** ******, *** we **** **** *** **** [** an] ********** ******* *** ** * business *******. ** ** **** ********** those ************* ***** *******.

Investment *****

***** ***** ** ******* ****** ** the ******* **** ***** ** *** US, ********* ** ******, *****'* **** of *** *** ******** *********** **** :

*** ******** ** *** ******* ***** is ***** ** ********. **** ** our ***********.

*** ****** ****** ** ******** *** of *** ******* ****** ******* ** terms ** *** ******** ********. ** have **** ******* ******** ** **** market **** **** *****.

**** ****** ***** **** *** **** any ***** ******* ********** *****, ** is ************ ********* ******** ******** ** a ******* ********, **** ******:

** *** **** **** ********** ** promising **********-******** ********* **** ***** *** Eagle *** ******* ** ******** ******** as * *******.

*** **** ******, ** ***'* **** any ****** ***** ** **** ********* deals [***** **]. *** ** ******, if ***** ** *** ********* [*********] coming **. ** ***** ** ********** in [****].

** ***** *****, ** **** **** making *&* *** *** ****. **'* difficult *** ** ** ******* *** target. *** **** ** ***** ** the ******** ********, ************* ******** **'** be ******* ** *** *******'* ****** potential **** **** ********** ** ******** security ** * ******* *****.

Not ********* **** ****** *********** ** *** **

***** ***** ***** ** ******* ****** in **** ******** *** ** * strategic ******** *** ******** ** *********, it *** ** ***** ** ****** its **** ****** ********** ******** **** the **:

** **** *** ******* ****, ***, Allied ********* ** *********. ** *** not ** **** ******* ** ************* business.

** **** ** ** * ******* company ** ****. ** **** *** to ******** *** ****** ****** ** Asian *********. [**] **** ** ** dominant ******* ** *********, [*** *******]. At *** **** ****, *** ******** industry ** ******** ******* ** *** advancement ** *** ************. ** ***** like ** ******* *** ****. ** we **** ** **** **** ******** to ************ **** *** *** ** in ***** ********* **** *** ** the ** ** ******.

[**] *** ** ****** *** **** more ********* [***********] ** ***** *********. That *** *** ** *** ******** service ********.

** ***** *** ****** ** *** US ** *** **** ********. ** this ******, ** ***'* **** *** intention ** ***** *** ******** ***** monitoring ******* ** *** ****** ****** or **** *** ****** *********** [********].