Chairman's Statement

Dear Shareholders,

FY2021 was an unusual and extraordinary year since Karin’s establishment in 1977. Even though Karin has experienced the economic booms and busts of the past four decades, Karin had never confronted the perfect storm of the global pandemic of COVID-19, global recession and a global trade war between the world’s two superpowers.

Nevertheless, Karin has retained its profitability with healthy dividend returns for shareholders over the past decade. Even in the midst of the challenges of FY2021, because Karin is very focused on proper risk management, cashflow generation and business continuity planning during a crisis, we are able to still succeed.

On the other hand, the COVID-19 pandemic had a huge, unintended impact on the IT industry. Cloud computing and cybersecurity services exploded, as businesses transformed their infrastructure to enable workers to work from home without disrupting services or opening up vulnerabilities. The digital transformation towards distributed IT with top-grade cybersecurity provisioning will continue to evolve after COVID-19.

Risks and business opportunities are always intertwined. I am confident that Karin will continue to grow and our management team will witness the new post-pandemic age of digital transformation with potential, rapid growth in the years to come.