Dear Shareholders, Partners and Colleagues

The year 2025 was a challenging period for the Company, as it faced significant impacts from a range of external factors affecting the industry and broader economic environment which influenced the Company’s operating performance and financial position. Despite these challenges, the Company has continued to implement measures to maintain business stability while laying the foundation for recovery and long-term organizational resilience.

During the year, the Company reviewed and refined its strategic direction with a focus on strengthening its core Engineering, Procurement and Construction (EPC) business. In addition, the Company has actively pursued business opportunities in overseas markets with strong growth potential and sustainability. Meanwhile, the Company continues to enhance its capabilities in Front End Engineering Design (FEED) and expand its Operation and Maintenance (O&M) services in order to improve competitiveness and deliver long-term value to both customers and the business.

In parallel, the Company has undertaken initiatives to further enhance organizational effectiveness and operational agility. These efforts focus on optimizing operational processes, enhancing cost discipline, and strengthening overall operational efficiency to ensure that business activities remain well aligned with the Company’s strategic direction. The Company also continues to build upon its core strengths, including engineering expertise, highly capable personnel, and the long-standing trust and confidence of customers and business partners.

On behalf of the management, I would like to reaffirm the Company’s strong commitment to reinforcing business stability and supporting the continued development of the Company. The continued support and collaboration of our employees, customers, and business partners remain vital to the Company’s progress. The Company sincerely appreciates the support from all stakeholders as we work together to navigate current challenges and strengthen the Company’s long-term competitiveness, with the aim of bringing TTCL back to sustainable growth in the future.

With gratitude,

Hironobu Iriya
Chief Executive Officer
TTCL Public Company Limited