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Message from CEO

The stable supply of energy is
our permanent raison d'être.

The net D/E ratio is expected to reach between 1.0 to 1.5, the goal of the Medium-Term Management Plan, at the end of FY2021, reflecting a significant increase in net profit in FY2020. However, we still have some way to go before we achieve net worth of ¥400.0 billion, the goal of the Medium-Term Management Plan, and will continue to seek to improve our financial position.

We have decided to pay an annual dividend of ¥80 per share for FY2020. We will continue to put more weight on shareholder returns, while simultaneously exploring ways to bolster our financial situation, a basic policy of the Medium-Term Management Plan.

We believe that our business with petroleum is "essential work" that is indispensable to the world. We think that particularly at a time like this with the COVID-19 pandemic, people will be reminded of what their lifeline is and which company is responsible for it. Although energy will transform from petroleum to renewable energy such as wind power, it will remain true that a business that supplies energy will support society and people's lives. I believe that consistently supplying energy as a social lifeline is the permanent raison d'être of the Group.

I think that there will be numerous movements and developments toward carbon net zero in 2050 but recognize that it is a goal that can never be achieved without major changes. Therefore, we will build a resilient business structure able to respond to future changes by investing in future pillars such as renewable energy and promoting sustainable management while simultaneously securing earnings in the Petroleum Business.

We will continue to aim to be a valuable company for our shareholders, customers, business partners and all other stakeholders. We sincerely hope that you will continue to extend your support for many years to come.

Representative Director, Group CEO Hiroshi Kiriyama
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