I would like to express my heartfelt gratitude for your ongoing patronage of our company and products.
In today's society, the business environment is evolving at an astonishing pace. 2024 was a year in which we experienced the historic depreciation of the yen along with soaring prices, necessitating businesses to reform their operational structures. In the field of technology, the rise of generative AI has presented an opportunity to dramatically increase commercial productivity.
In 2025, Japan's baby boomers will be 75 years old or older, and the so-called '2025 problem' is anticipated to cause various social issues, including an increase in social security costs. The decline in the working population is also a significant concern. Coupled with a decreasing birth rate, Japan's population decline is expected to accelerate at twice the pace compared to the past decade.
The beauty industry is no exception. As the population declines, securing human resources will become increasingly challenging, and efforts to enhance job satisfaction and improve productivity will be required more than ever.
We will continue to do our utmost to contribute to the development and prosperity of the beauty industry while quickly responding to ongoing changes in the business environment.
To conclude, our new facility was completed last year on a site adjacent to our Kusatsu plant in Shiga prefecture, which has been in operation for approximately 50 years. With this new facility, we aim to optimize our production system to meet the growing demands of our customers and to achieve even more reliable and safe manufacturing, as well as a stable supply.
In the year ahead, we will continue to strive for the sustainable growth of society as a whole and the development of the beauty industry.
I would be most grateful for your continued support.
