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Message for shareholders (FY2023 4Q)

During the current consolidated FY (Jan. 1, 2023 - Dec. 31, 2023), global economy is still suffering from unpredictable situations due to geopolitical risks such as prolonged warfare in Ukraine and sudden occurrence of conflict in the Middle East, as well as monetary tightening in the USA/Europe and economic slowdown in China.

At the same time, in Japan, with the COVID-19 having been transferred to category 5, economic activities could progressively return to normal states and there appears to be some signs of recovery of economic environment. However, further weaker yen caused steep price rise of resources and raw materials, and continuous price escalation made consumer confidence diminish, thus putting domestic companies in quite severe management environments.

In such an environment, the Group considered what it should aim at in very long spans of 20, 30 years and so forth for the future in starting up its Medium-Term Business Plan, and set its corporate purpose as "Activate Your Life". "Activate Your Life" means, in cooperation with our stakeholders, resolving various social issues by means of infinite power of surface science, and contributing to better life and brilliant future.

Based on this corporate purpose, the Company set its medium-term growth vision as "The most respected innovation company for customers all over the world", and developed its three-years' Medium-Term Business Plan named "INNOVATION25" (2023-2025).

At present, the Company is working on promoting the five major strategies of its Medium-Term Business Plan, namely "Major transformation of business structure", "Well-balanced investment", "Productivity reform", "Promotion of sustainable management", and "Evolution of the extended family policy".

Thank you for your cooperation and we ask for your continued support looking forward.

EMORI Yasumasa
President CEO