We would like to take this opportunity to thank you for the invaluable understanding and support you have extended to Toray Industries, Inc. and the Toray Group.

I have been appointed President of Toray Industries, Inc. effective June 27, 2023.

Currently, society and companies are facing a multitude of issues that must be addressed, including uncertain international situations such as the Russia-Ukraine war, global warming which causes extreme weather, changes in work styles due to diversification of people's value in the wake of the pandemic, and the evolution of digital technologies such as generative AI.

Amidst the significant and rapid change in the business environment, I believe that the mission of the Toray Group is to contribute to society by providing essential solutions through supply of innovative technologies and advanced materials. To this end, we believe it is necessary to address the various issues with a "medium- to long-term perspective" and a "sense of speed."

We have announced the new Medium-Term Management Program, Project AP-G 2025, which covers three years from FY 2023 to 2025 on March 27, 2023, and its theme is “value creation.” We will create new high-added-value by integrating and fully utilizing the tangible and intangible assets we have fostered over the years, including R&D capacity acquired from material development, sales & marketing operation capacity that enable establishment of value chains globally, and production capability that enable supply of high-quality products.

The Company will implement tasks to improve profitability and asset efficiency and I wish to have various dialogues with stakeholders to realize a “sound, sustainable growth” by “value creation.”

We would like to ask our shareholders for their continued understanding and support.

June 2023