To our shareholders and investors, we would like to express our sincere gratitude for your continued support of our Group.
On October 1, 2024, we merged with our subsidiaries, Nissin Sugar Co., Ltd. and ITOCHU Sugar Co., Ltd., and commenced operations as an independent company, having transitioned from a holding company. Effective October 1, 2025, we merged with our subsidiary, DAIICHI TOGYO CO., LTD., by absorption.

Our Group formulated the medium-term management plan “WELLNEO Vision 2027” in May 2024. We are working on building a solid business foundation in the Sugar Segment and on the growth and expansion of the food science business, including functional ingredients, in the Food & Wellness Segment.
Against this backdrop, in March of this year, Toyo Sugar Refining Co., Ltd. newly joined the Group, and we decided on the basic policy to conduct a merger with the company in October 2026. While strengthening the foundation through collaboration in the sugar business, by sharing throughout the Group the functional materials held by the company and its knowledge and experience in research and product development, we aim to create further synergies through combinations with the “flora design materials” that we have cultivated to improve the environment of the intestinal and oral bacterial flora, as well as with a wide variety of ingredients and services. In addition, under integrated Group management, we will continue to proactively pursue new capital investments, business alliances with other companies, and M&A, thereby accelerating our pace of growth.

In addition, to strengthen the management foundation that supports business growth, we are promoting human capital management that leads to the Company’s growth by enabling each employee to realize their potential fully. Furthermore, in sustainability management, we have formulated the “SUSTAINABLE VISION 2030” and are also promoting initiatives aimed at achieving the KGI (Key Goal Indicator) of the five materialities.

Going forward, by concentrating the management resources and know-how within the Group, under the vision of ”’Nice’ for the mind and body,” we will contribute to a rich life through “food” and “health” and aim to realize the “Well-being” of our diverse stakeholders. In addition, we will continue to maintain fair and highly transparent management, working to achieve sustainable growth and further enhance corporate value. We kindly ask for your continued support.

October 2025

Koji Yamamoto, President

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