New Year’s Greetings from President & CEO (Summary)

I would first like to wish all of you the very best as we begin the new year of 2021.

As the COVID-19 pandemic continues to spread worldwide, I would like to offer my best wishes to everyone affected. I am also grateful to all those who have been doing their utmost to provide medical care and maintain social functions over the festive period. In addition, I wish to express my gratitude once more to the Mitsui Chemicals Group employees who have spared no effort in their work to undertake business activities across the globe and maintain production over the new year.

Health and Safety as a Top Priority

As the health of our employees and their families is the spring water that feeds our corporate activities, I would like to make a renewed request to you all to be even more conscientious about managing your health. We once again ask that each and every employee fully take on board our policy of placing safety as a top priority and endeavor to make 2021 a year with zero workplace accidents and injuries.

Reflecting on 2020

Due to the impact of COVID-19, the Mitsui Chemicals Group’s business results for the full financial year look set to show lower earnings than in the last few years. We have sought to overcome these difficulties through operations that emphasize cash flow and careful selection of investments. At the same time, to speed up the transformation of our business portfolio, we have implemented such aggressive measures as M&A in our target domains. We have also set to work on strengthening our Basic Materials domain with a view to improving income fluctuations and raising earnings.

While the situation is unpredictable, there are signs that demand is picking up in major industries, and our business performance is on track for recovery. Going forward, our plan is to continue undertaking proactive investment aimed at transforming our business portfolio – with a primary focus on the Health Care and ICT sectors, where further growth is anticipated.

Looking Ahead as 2021 Begins

Dependent on the outcomes of vaccine development, we will likely see new values and visions for society emerge as we either learn to live with COVID-19 or bring the spread of infection to a halt. The Mitsui Chemicals Group will respond to this by moving forward with the following measures aimed at preparing for the new normal:

1. Review of our Long-Term Business Plan
   We will redefine our vision for the Mitsui Chemicals Group with an eye to the world of 2030, share our roadmap for bringing the vision to fruition with the whole group and embark on implementing it.
2. Digital transformation
   We will establish a new dedicated organization within the company to promote digitalization in all fields in an integrated manner.
3. Initiatives aimed at becoming carbon-neutral by 2050
   We will accelerate efforts throughout the company to achieve net zero greenhouse gas emissions by 2050.
4. Work style reform
   We will create a mechanism for combining the power of individuals to form an organization of comprehensive strength, based on the principles of taking initiative, having a sense of duty and maintaining a collaborative structure.

My Request to You All

2021 is an important year, representing a fresh start for efforts to achieve the growth and development of the Mitsui Chemicals Group, including taking on the challenge of securing a V-shaped recovery in our business performance. The measures listed above are all challenging tasks, but as I said in my message after taking up the post of President & CEO, the successes and failures born of everybody’s efforts will help us learn in a way that bolsters the competitive strength of the Mitsui Chemicals Group. As we embark on this new year, let us work resolutely toward even more challenging targets, without fearing failure.