DIC 2023 New Year’s Message

The following is a summary of DIC president and CEO Kaoru Ino’s 2023 New Year’s message to DIC Group employees:

“In fiscal year 2022, the global economy was buffeted by both the lingering impact of COVID-19 and a number of geopolitical risks. Against this backdrop, we launched a new long-term management plan, DIC Vision 2030, centered on business portfolio transformation and sustainability strategies designed to strengthen our business structure to be more resilient to fluctuations in the macroeconomic environment.

“We also redefined our vision statement, communicating to audiences both internally and externally our image of DIC as an organization that improves the human condition by safely delivering color and comfort for sustainable prosperity, anchored by our evolving “Color & Comfort” brand slogan. The year has indeed been a test of our determination to conduct our businesses in line with our basic policy of providing greater social benefits that enhance shareholder value and build long-term corporate value.

“The market environment in fiscal year 2022 became particularly difficult from the third quarter on. This was amid global upheaval caused by such factors as sluggish conditions in Europe and economic turmoil in the People’s Republic of China (PRC) arising from that country’s stringent zero-COVID policy.

“Despite these circumstances, DIC Vision 2030 got off to a promising start. We succeeded in acquiring Italian adhesives and polymers manufacturer Sapici S.p.A. and coating resins manufacturer Guangdong TOD New Materials Co., Ltd., in the PRC, two major developments coming close on the heels of our acquisition of the Colors & Effects business in fiscal year 2021.

“These achievements have enabled us to create a firm foundation for realizing Value Transformation—that is, for bolstering our corporate structure through qualitative reforms of existing businesses—in our three business segments. We can also see a clear path toward our goal of New Pillar Creation, which emphasizes the creation of new businesses in response to environment, safety and health (ESH)–related issues and social changes, focusing on inorganic materials and healthcare.

“As we embark on the second year of DIC Vision 2030, it is crucial that each of us intensify our personal investment in our fundamental mission to maximize the benefits DIC provides to society. This means recommitting ourselves to always acting with integrity, placing an equal priority on the amplification of social value by working to contribute to a society that is increasingly green, digital and quality of life (QOL)–oriented.

“I want the DIC Group to be an organization that we all feel proud to be part of. As always, our employees will continue to take the lead. Accordingly, guided by one of the crucial strategies set forth in our new long-term management plan, which is to reinforce management of human capital, we will step up efforts to transform our business portfolio and become more responsive to changing circumstances.

“I look forward to working with all of you in the year ahead to achieve the ambitious targets of DIC Vision 2030. Boldly taking on new challenges means also being willing to risk things not going as planned. The important thing is that we learn from our failures. In all we do, the diversity of the global DIC family will remain the driving force behind our onward march. Our employees’ aspirations will continue to underpin the aspirations of the entire DIC Group.

“In closing, allow me to wish all DIC Group employees a Happy New Year. May 2023 be a year of happiness, health and prosperity for you and your families.”