Kozaburo Kobayashi, who founded KOSÉ in 1946, poured his limitless passion into making cosmetics that give people dreams and hope. Even during the post-war period of shortages, Mr. Kobayashi committed KOSÉ to making quality products that truly exceeded the expectations of each customer. This spirit remains alive in all facets of our business today, from research and development to manufacturing, from customer-oriented consultative sales to distribution, to our unique brand marketing system that perfectly matches brands with sales channels. We believe it is this spirit that gives KOSÉ the strength and drives the company to do more. Since assuming the position of president in 2007, I have focused my efforts on developing a foundation from which we can grow into a global company while still preserving the corporate culture. We started our journey to achieve challenging goals by overturning existing norms through a borderless approach to accelerate our global growth. In line with its basic strategies —“ Promote brands to win recognition and respect around the world” and “Sustainable improvement in performance ”— KOSÉ will redirect its approach to achieving growth in such a way as to expand its presence in the global market. We have also became a member of the UN Global Compact in July 2017 to fulfill our fundamental responsibility in society and environmental sustainability as a member of the international society. We will continue to maintain our ardent passion for cosmetics and work together with our stakeholders. Your continued patronage and support are greatly appreciated. Kazutoshi Kobayashi, President & CEO