DIC : 2022 New Year’s Message

The following is a summary of DIC President and CEO Kaoru Ino's 2022 New Year's message:

In 2021, we saw a remarkable recovery in demand as people became more accustomed to life with COVID-19. We faced numerous supply chain-related issues, including the fact that concerns related to flagging automobile production, owing to a semiconductor shortage, persisted into the second half; the declaration of force majeure for key chemicals; and higher costs, a consequence of both a distribution slowdown and soaring crude oil prices. Nonetheless, orders overall remained solid. I would like to thank all employees for their tireless efforts to ensure we achieved our fiscal year 2021 operating results forecasts, despite a further increase in crude oil prices in the fourth quarter.

At the end of June, we completed our acquisition of the Colors & Effects business, solidifying our global pigments business and bringing approximately 2,600 new colleagues into the DIC Group. I would like to extend a warm welcome to all of you. The DIC Group currently has operations in more than 60 countries and territories worldwide, but we expect the addition of new colleagues who are global business pioneers will yield diverse, broad-ranging synergies that will underpin further business expansion and prosperity for the Group.

In fiscal year 2022, we are kicking off a new medium- to long-term management plan. It is crucial that we continue to promote the swift transformation of our business portfolio, a key focus of our DIC111 medium-term management plan, which concluded at the end of fiscal year 2021. At the same time, we must also step up efforts to promote (1) contributions to sustainability, that is, through strategies that support a sustainable society; (2) work style reforms, that is, reforms designed to transform the Group into a more resilient organization by enhancing both job satisfaction and productivity; and (3) digital transformation (DX), that is, the use of digital technologies to provide new value.

It is increasingly important that companies, as well as their employees, do not exclusively focus on the maximization of profits, but that they equally prioritize society and the amplification of social value. I look forward to an increased engagement from our employees-guided by a mission and corporate philosophy endowed with both reason and passion-leading to a greater sense of professional fulfillment and a raison d'être that resonates with everyone. I want the DIC Group to be a company that we all feel proud to work for.

In closing, allow me to wish all DIC Group employees a Happy New Year. May 2022 be a year of happiness, health and prosperity for you and your families.

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