Mandom Report 2022

FY2022 Ceremony for New Employees

Editorial Policy

The Mandom Group has been publishing the Mandom
Report (integrated report) since 2018 to help ourstakeholders understand our medium- to long-term
efforts at value creation. Mandom Report also
integrates the previously separate KohDoh Report(CSR report). This has been done as part of our workon providing integrated information as a company andto enhance the non-financial information we provide.
When editing this report, we put together a briefsummary focused on information that is highly
important for improving Mandomʼs corporate value
while referring to the “Guidance for CollaborativeValue Creation” released by the Ministry of Economy,
Trade and Industry and other resources.

Reporting Period

FY2021 (ended March 31, 2022)● Mandom and Group companies in Japan: April 1, 2021-March 31, 2022
● Overseas Group companies: January 1, 2021-December 31, 2021
Note: To the extent it is possible, the latest information at the time this report was written is included.

Reference Guidelines“International <IR> Framework”“Guidance for Collaborative Value Creation” released by the Ministryof Economy, Trade, and Industry● “ISO 26000:2010̶Guidance on Social Responsibility” edited byJapanese Standards Association● “Environmental Reporting Guidelines (2018 Version)” released by Ministry of theEnvironment, Japan● “GRI Standards” released by GRI (Global Reporting Initiative)●●

Visit our website for more detailed information.
●●

IR Information: https://www.mandom.co.jp/en/ir/
CSR Information: https://www.mandom.co.jp/en/csr/

Report Coverage

Mandom Corporation and its affiliated companies
both inside and outside Japan

Note: For details, please see p. 80 “Mandom Group Companies.”

Regarding Forward-Looking Statements:
This annual report contains forward-looking statements concerning Mandomʼs current plans,strategies, beliefs and performance. These forward-looking statements include statements
other than those based on historical fact and represent the assumptions and beliefs ofmanagement based on information currently available. Mandom therefore wishes to caution
readers that actual results may differ materially from expectations, and that forward-lookingstatements are subject to a number of foreseen and unforeseen risks and uncertainties. Allamounts have been rounded down to the nearest whole unit.

Corporate Slogan

Logo (symbol + company logo)〈 意味 〉なりたい自分に、全部なろう。
We of course want to help consumers by helping themachieve good looks and beauty through the use ofcosmetics, but we also want to help consumers withhesitation to break through the resignation andassumption that they have to sacrifice something inorder to be the person they want to be. We believe that
our new “Dedication to Service (OYAKUDACHI)” in the
future is to support all consumers to “live their own
lives” and also to sustainably create a society in which
they can achieve this and which is close to their ideals.

Human-orientedSmilemandom

We simply express our desire to continue to contribute asa company and “dedicate” in the creation of value to ourstakeholders, including our employees.
We have added these three together. “Human-oriented,”
the core of the Mandomʼs mission and the “M” inMandom, which together with “Smile,” can create smiles
that can be shared by anyone, regardless of race, country
or region, age or gender.

Contents
About Mandom
̶From the Past to the Present Mandom̶

02 Mission Framework
04 Dedication to Service (Oyakudachi)
Continuing Constantly Since
Founding
06 Mandom Group Business Areas
08 Brands of the Mandom Group

Value Creation Story̶From the Present to the Future Mandom̶

10 Top Message
16 Mandom Groupʼs Human-Oriented
Value Creation Model
18 Invested Capital and Value Provided
by Value Creation Model
20 Materiality and Sustainability
Strategy of the Mandom GroupStrengths and Initiatives to Help Materiality
̶From the Present to the Future Mandom̶

22 Strengths and initiatives to help “Creating
an easy-to-enjoy grooming culture”
24 <Feature> The Challenge of Only One
Marketing in the Age of Social
Media
27 Strengths and initiatives to help “ExpandingDedication to Service to a diversity of consumers”
30 Strengths and initiatives to help “Realizing
mutual growth of employees and the company”
32 <Feature> Human Capital Initiatives
35 Strengths and initiatives to help “Actionsfor sustainable global environment”
39 Strengths and initiatives to help
“Sustainable procurement of raw materials”
42 Strengths and initiatives to help
“Maintaining/enhancing the corporate base”
45 Corporate Governance
52 Introduction of Officers
54 ComplianceMiddle-Range Planning
56 13th Middle-Range Planning “MP-13”
and positioning of “VISION2027”
58 Look Back at Previous Middle-Range Planning
59 Outline of “MP-13 (April 2021 through March 2024)”
60 Look Back on the Fiscal Year Ended March 31, 2022
62 <Feature> Promotion of Digital Transformation
64 Financial Strategy

Performance for the Fiscal Year Ended March 31, 2022
66 Analyses of Management and Finances
68 Financial and Non-financial Highlights
70 11-Year Consolidated Financial and Nonfinancial Highlights
72 Consolidated Financial Statements

Company Information
78 Mandom Group Detailed History
80 Mandom Group Companies
81 Company Outline / Stock andShareholder Information
Mandom Report 202201