I would like to begin this message by expressing my deep appreciation for your continuous outstanding support.

 

During the 19th fiscal year (January 1, 2024 through December 31, 2024), the domestic cosmetics market remained firm, posting low single-digit annual growth amid a moderate economic recovery. The Chinese market remained stagnant, and consumption of cosmetics continued to be sluggish.

 

Within this market environment, we have been working on the following key strategies based on the medium-term management plan for the period from 2024 through 2026, which serves as the second stage toward achieving “VISION 2029”: 1) strengthen the customer base in the domestic business to achieve sustainable growth and improve profitability; 2) further grow the overseas business and establish business bases in new markets; 3) achieve profitability through growth in brands under development, contributing to sustainable earnings; 4) enhance the brand portfolio and expand business domains; 5) strengthen R&D capabilities for new value creation; and 6) strengthen sustainability combining the resolution of social issues with uniqueness. In 2024, although ORBIS continued to perform strongly with double-digit growth in revenue and profit, POLA’s struggles in both the domestic market and overseas markets resulted in lower revenue and profit for the consolidated Group.

 

For this fiscal year, to meet our shareholders’ expectations, we renewed the management structure of the Group’s operating companies in January 2025. Under the new structure, we will further refine each brand’s individuality, and the entire Group will work together to achieve VISION 2029.

 

We greatly appreciate our shareholders’ continuing support of the POLA ORBIS Group.

 

March 2025