Thank you for your support and cooperation in the activities of the Nippon Paint Holdings Group.

Nippon Paint is an integrated paint manufacturer founded in 1881. In the course of our 130-year-long history, we are happy to have played a pioneering role in the Japanese chemical industry, and by offering paints and coatings refined to meet changes in society and the environment, contributed to the growth of the Japanese economy.

In October 2014 we reorganized Nippon Paint into a holding company toward conducting optimal group management and enhancing the independence of business operations. To ensure solid growth in the Asian region, in December 2014 we fortified our partnership of 50 years with the Wuthelam Group and consolidated the majority of our joint ventures in Asia. Further, in efforts to expedite and make more dynamic the decision-making process and operations of our regional businesses in line with their respective growth models, in April 2015 we established four operating companies: for automotive paints, industrial-use paints, trade-use paints, and surface treatments.

The consolidation of joint ventures establishes Nippon Paint as the largest paint maker in Asia. We hope to draw on this position and take on challenges in an aim to compete with the world's top paint makers as a global major. All employees of the Nippon Paint Group will continue to work as one toward growing and enhancing our corporate value to this end.

I look forward to your guidance and support, and your confidence in the future of Nippon Paint Holdings.