Contents

• P.03 Value Creation History
• P.05 Value Creation Process
• P.07 Kurabo's 5 Business Domains
• P.09 Financial and Non-financial Highlights
• P.11 Message from the President
• P.17 Kurabo Business Divisions
• P.25 Research and Development
• P.27 Financial Strategy
• P.29 Materiality
• P.33 Board of Directors
• P.35 Interview with Outside Directors
• P.37 Sustainability Action
• P.49 Financial Data
• P.51 Company Profile, Offices and Plants