Oishi Koseido Co.

The present situation, on the other hand, threatens Japan's future, which makes us focus on the issue on "How do we develop strategies as we enter the tough time of shrinking local labor force that projects dim prospects for productivity growth?" Considering the mid-to-long term outlook of Japan's economy, the working age population is expected to decrease to approximately 8.5 million people within the next fifteen years amid the ongoing issues of a declining birthrate, a growing proportion of elderly people, and a decrease in population. For corporations, this means a difficult time attracting and retaining labor which will eventually affect productivity and income growth. Amidst this wave of changes, Oishi Koseido has recognized the need to expand business beyond Japan and initiated the strategy of global expansion 10 years ago through the process of trial and error. The Research and Development Department is central to the efforts to turn overseas business into a major pillar of the company. In the past, the domestic side of the business focused on OTC drugs and medical patches, but the overseas market is still an unknown territory where the conditions for approval and licensing present extremely high hurdles and tough challenges. The dedicated efforts and strong spirit of each employee in facing challenges led to overcoming the hurdles and was instrumental in successfully obtaining the US FDA approval on February 28, 2018. We were able to finally launch a new product in the USA. As we mark a full 111 years since the company was founded, we plan to actively develop this new overseas enterprise into a cornerstone of our global business. We hope for your continued support in the future. Oishi Koseido Co., Ltd.