In February 2021, we celebrated the 100th anniversary of our founding. Taking this opportunity to mark our "new century" and 100 years, we have established our management philosophy with the desire to foster a new corporate culture by clearly indicating our future management direction and judgment axis both inside and outside the company, adapting to an ever-changing society, and aim to achieve sustainable improvement in corporate value by harmonizing our technology in a world where people and nature coexist. In addition, we have also set forth our Philosophical Norms as a universal guideline for acting in accordance with our Management Philosophy. Each and every one of us will practice "創Sou(Japanese pronunciation of this Chinese character, and so on, which means Creation), 考Kou(Consideration), and 殊Shu(Special)" as a concrete ability and attitude in our work, and will continue to challenge and evolve for further growth.

We have formulated the Third Mid-Term Management Plan in order to make the most of the lessons learned from Phase 2 of the Second Mid-Term Management Plan and to make the next five years, in which technological innovation is expected to accelerate at a pace that will determine the future of society, a period of sustained value enhancement and growth for our company. As mentioned above, due to major changes in the business environment, we revised our quantitative targets as of June 15,2023. In order to respond flexibly to significant changes in the business environment, we will continue to review our plans every year as necessary.