June 28, 2017
To Whom It May Concern
Company Name:
Milbon Co., Ltd.
Title of Representative:
Ryuji Sato, President and CEO(Code Number: 4919 - First Section of the Tokyo Stock Exchange)
Inquiry:
Masahiro Murai, Managing Director
Telephone:+81-6-6928-2331

Relocation of Head Office and Revision of Operating Forecasts under theMedium-term Management Plan
Milbon Co., Ltd. (hereinafter referred to as “the Company”) hereby announces that the Company, at themeeting of the Board of Directors held on June 28, 2017, resolved as follows on the relocation of its head
office to Tokyo, and the revision of its operating forecasts under the Medium-term Management Plan.

1.

Reason for the relocation<Background>
The Company, in an effort to strengthen research and development capabilities, is currently focused on
reinforcing its human resources in the Development Division centered around the Central ResearchInstitute. In order to achieve this objective, it became necessary to secure sufficient space for research
work by relocating the head office function attached to the Central Research Institute. Thus, theCompany has been in the process of selecting the relocation destination for the head office function.
<Purpose of the relocation to Tokyo>The reasons for selecting Tokyo as the relocation destination are as follows.
1. To enhance brand image in promoting our cosmetic products business2. To accelerate global business development
3. To secure diversified talent necessary for the aforementioned
4. To strengthen relationships with partner companies, a vital prerequisite for developing into new
business fields

2.

Relocation destination
Kyobashi Edogrand, 2-2-1 Kyobashi, Chuo-ku, Tokyo

3.

Scheduled relocation dateNovember 2017 (to be finalized)

4.

Impact on business results
While this relocation is believed to have minimal impact on the business results of the fiscal year ending
December 31, 2017, the Company will, as stated below, make investments ahead of their originalschedule, for materializing the growth strategies under the next Medium-term Management Plan, andthus revise part of the operating forecasts under the current Medium-term Management Plan.

- 1 -5.

Revision of operating forecasts under the Medium-term Management Plan
<Details of the revision>
With respect to the operating forecasts for the fiscal year 2019, the final year of the Medium-termManagement Plan, the Company revises operating income and profit attributable to owners of parent asfollows, while net sales shall remain unrevised.
(Unit: million yen)
Medium-term Management Plan Medium-term Management Plan
(FY2019 targets)(FY2019 targets)
Before the revision
After the revision
AmountNet sales

Composition
ratio (%)

AmountChangesComposition
ratio (%)

35,000100.0

35,000100.00

Domestic

28,50081.4

28,50081.40

Overseas

6,500

18.6

6,500

18.60

Operating income

7,000

20.0

6,000

17.1(1,000)

Profit attributable toowners of parent

4,130

11.8

3,850

11.0(280)<Reason for the revision>
The revision is for implementing within the current Medium-term Management Plan the following
investments originally scheduled under the next Medium-term Management Plan, in an effort toaccelerate medium- to long-term growth strategies in the future.
1. Reinforcement of human resources and their training for promoting the cosmetic products business
2. Acceleration of corporate branding
3. Global business development into areas including Europe
4. Relocation of head office to Tokyo- 2 -