From early on, we have devoted ourselves to expanding sales of our group's products in Asian countries. While establishing sales subsidiaries in China and Korea, we have also been selling our group's products through local distributors in other Asian countries.

Meanwhile, we have recognized the need to improve our overseas sales activities to expand our business further. In this light, strengthening sales bases in ASEAN countries, which have exhibited significant economic growth, has been a crucial challenge for us.

To overcome this challenge, we have reached an agreement with SSE, one of our sales distributors, to establish a new joint venture and sell our group's products in various Southeast Asian countries. The new joint venture will endeavor to develop and increase sales of our group's products initially in Singapore, Indonesia, Malaysia and Brunei. In the future, efforts will continue to expand the sales area to include other Asian countries.

Outline of the Joint Venture