Happy New Year.

2023 has come to a close, but it was a year of duality that has set the stage for 2024. On one hand, global economic activity recovered significantly since the world emerged from the COVID-19 pandemic. In Japan, tourism has reached pre-COVID-19 levels, and there is growing interest in investing in Japanese companies. On the other hand, the international community continues to face many uncertainties, such as the lack of a resolution in the Russia-Ukraine war, and the escalating conflict in Israeli and Gaza.

For JSR, as the healthcare and digital solutions industries continue to develop as priority sectors globally, the biopharmaceutical and semiconductor markets where our company is involved remain strong. However, competition is becoming increasingly fierce.

In light of this, in June 2023, our company decided to go private under a strategic partnership with JIC Capital, a public-private fund that supports companies strengthen their competitiveness. JIC Capital will work with us as we embark on the next phase of becoming more globally competitive in 2024.

The strategic partnership will enable us to expand our market share faster through a wide range of product lines, improve the efficiency of our business as a whole, integrate technology with other companies, and enhance our international competitiveness by expanding our resources, including acquiring talent and new technologies.

In the near-term, we expect a better business environment and greater operational excellence for all three of our businesses - Digital Solutions, Life Sciences, and Plastics.

Furthermore, to provide higher value to our stakeholders, including our steadily growing customer industries such as automobiles, biopharmaceuticals, semiconductors, and display devices, we will focus our efforts on areas that are sustainable and secure for future growth.

JSR Group views change in the business environment as an opportunity to progress toward establishing a resilient management foundation that will continuously increase corporate value.

With this goal in mind, JSR Group aims to realize a strong corporate culture in 2024, which will allow for transparent and robust corporate governance. We are also committed to actively working on resolutions to various issues, including environmental protection and improvement, and we hope to continue to be a trusted partner for our stakeholders.

We ask for your continued guidance and encouragement throughout the new year and in the future.

Eric Johnson
Representative Director, CEO and President,

JSR Corporation

Attachments

Disclaimer

JSR Corporation published this content on 01 January 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 January 2024 00:02:47 UTC.