The 135th Annual General Meeting of Shareholders

On June 15, the 135th Annual General Meeting of Shareholders was held at JP Tower Nagoya (Nakamura-ku, Nagoya), where our global headquarters is located.

In order to ensure appropriate information disclosure and transparency, this year's meeting was again held as a virtual shareholders' meeting with hybrid participation of the venue and a live broadcast.

Although the new coronavirus infection has been moved to a category 5 infection, the number of visitors to the venue was 53, and 25 shareholders watched the meeting online, which is a gradual increase in the number of participants.

I chaired the meeting as I did last year.

I made sure to inform the shareholders about the "Business Report" and "Issues to be addressed."

I also explained the "2029 Sumitomo Riko Group Vision" and the "2025 Sumitomo Riko Group Mid-Term Management Plan," which were both announced on May 30.

I conveyed that we will continue to contribute to society in line with our Purpose, " To realize the comfort of society by maximizing the potential of materials through Monozukuri " while faithfully upholding the Sumitomo Spirit of "Banji-nissei," "Shinyo-kakujitsu," and "Fusu-furi,". Also I explained our aim to make a leap forward to become a "Global Excellent Manufacturing Company.

Question and Answer Session

We received several questions from shareholders, and one of the questions was:

"You have set sales for 2025P at 620 billion yen, but what is the percentage of EV-supported sales and what impact do you expect this to have?”

I answered as follows;

“We assume that the percentage of EVs in global automobile production will be around 20-30% in FY2025. The shift to EVs will not necessarily lead to a decrease in sales of our products. We believe that our sales will steadily increase along with the recovery of automobile production after the Corona pandemic.”

Three full years have passed since I took office as President.

In this difficult environment, we have received warm words of encouragement from shareholders for the recovery of our business performance in FY2022, which was the result of the concerted efforts of all Sumitomo Riko Group members, lead by all of our employees.

I felt that the results of our efforts to "respond flexibly to change without being bound by past concepts" are gradually beginning to show.

Let us continue to move forward with the collective efforts of the 25,045 employees of the Group so that our shareholders will become fans of our company.