66th Business ReportMar. 1, 2023 ‒ Feb. 29, 2024

CEO Interview

As a market leader in the boundary area,
we are contributing to the world withproducts that oﬀer top environmental
performance and even more.
In the 66th reporting period, the impact of trade friction between the US andChina as well as rising logistics costs led to net sales increasing 5.1% YoY to 31.88
billion yen and operating proﬁt rising 134.2% to 1.22 billion yen. By division, net
sales in the Functional Fluids Division rose 7.6% on the back of increased
automobile production in Japan and the US. In the Hot Melt Adhesive Division,
net sales increased 10% due to strong growth in the use of hygiene material
products, especially in Japan and Southeast and South Asia. At the same time, theSynthetic Lubricants Division saw a sharp dip in net sales by 21.5% due todemand for hard disk drives decreasing as investment in data centers slows down.
And despite a decline in net sales volume of liquid parafﬁn, the Liquid Parafﬁne &Sulfonates Division saw a net sales increase of 3.1% due to the correction of
product selling prices.
We begin our 10th Medium-Term Management Plan from FY2024. Achieving
both the realization of a sustainable society and increasing added value ofbusiness are the themes of this plan. The plan is to further strengthen the postureof promoting the development and sale of high value-added products that wehave been maintaining for the past few years. Speciﬁcally, this will entail a moreproactive launch of products with a focus on contributions to the environment
and a continued acceleration of measures and product development to drive themarket in the boundary area. MORESCO Green SX (MGS) products will be at thecenter of this plan. By developing and increasing sales of MGS products that meetthe diverse needs that exist throughout an entire life cycle, ﬁrst among which isoffering functionality that improves not only environmental performance but
also better work efﬁciency for customers and product added value, we will both
implement these initiatives intended to realize a sustainable society andcontribute to the sustainability of our customers.
These activities are not limited to Japan. Focusing on China and the US, countries
where we strengthened our foundation under the previous Medium-Term
Management Plan, more than ever before we will develop products that are both
environmentally friendly and offer the functionality that meets market demands
so that we achieve results as we move forward. In China, the production process
in particular is changing drastically as the development of new energy vehicles
progresses. In the US, demand for hybrid vehicles has deﬁed previous forecasts byin fact increasing, and the situation unfolding provides us with greater business
opportunities as evidenced by developments such as an expected comeback forJapanese car manufacturers. By continuing to precisely pinpoint the needs ofeach countryʼs market in real time, we are assuredly taking advantage of the new
business opportunities that come our way to expand our global market share.

Motohisa Morozumi
CEO, Representative Director, PresidentBased on Sustainability Mana
New Vision
Making Sure That MORESCO M
MORESCOThe Work of Strengthening Overseas Business Continues

Global expansion led by
Pick upThe
10th Medium-Term Management Plan (FY2024‒FY2026)
questions

MORESCOʼs Strategy for China and North America
Q.What kind of initiatives are you focusing on in the Chinese market?

Our main focus is on the development and sales of oil products
for the manufacture of parts for new energy vehicles, as well as research.
SewakiInNobuhiro
China, we will attempt
to enhance production capacity and efﬁciency, while also advancing business developments such as
COO,
Director, and sales of products for new energy vehicles and sealants for organic EL by consolidating the functionalthemanufacturing
Senior Managing Executive Ofﬁcer
ﬂuid production bases in Wuxi and Shanghai into the newly established MORESCO (ZHEJIANG) FUNCTION MATERIAL CO.,LTD., in Haining City. Currently, the main demand in Chinaʼs automotive industry is for oils that have minimal impact on theenvironment and are compatible with the integrated casting (gigacasting) process that has been introduced in recent years.

Liu Yingjin

In January of last year, we established an R&D center in Wuxi and have been investing in facilities in ways such as installing〈Themes of the 10th Medium-Term Management Plan〉

cutting-edge inspection equipment, as well as focusing efforts on human resource development through steps such as

Achieving both
“realization of a sustainable society”
while moving
process of backcasting from a vision of efﬁciency,
what the Company
aspiresforward
to be in with initiatives to increase proﬁtability, such as the search for and veriﬁcation of
petrochemicalmaterials
in China,
which will enable
us to“increasing
reduce procurement costs.
andadded value of business”
2030 and considering what should be donein the present
to work
towardExecutive Ofﬁcer in charge of China

fromresearchers and engineers. We are strengthening our development capabilities for gigacast
The 10th Medium-Term Managementreceiving
Plan forguidance
the periodof Japanese
FY2024 toproducts
from multiple
angles.
And
FY2026 consists of ﬁve basic policies,
which were
establishedafter
a we have established smart manufacturing lines that will lead to improved productionthat goal. The plan involves further enhancement of our precision in

Q.To
whattheextenthave thoseinitiatives
takenin the Chinese market?
developing
right productsthat meetcustomerneedsholdand theNet Sales and Ordinary

In addition to having already launched mold releasing agents compatible with gigacasting,Proﬁt
we are also
makingPlan (Consolidated) (Million yen)market. Policy 2, “Enhancement of Our Product Portfolio,” is at the core of
progress in new ﬁelds in terms of product development and sales, so our presence in China is steadily on the rise.
our efforts toward achieving these goals. With an aim toward maximizing
development speed that enables us to quickly deliver new value to the

Net Sales

38,000（Million yen）

the
value
of theproducts agent
we offer,
we will consolidate
our(fordevelopment
The
releaseof releasingfor gigacast
thin large parts
integrated/structural use) as a product for new energy
capacity
MGS products
bothachievement
contribute tothis
theterm. We are seeing an increase in inquiries
vehiclesandandincrease
getting sales
them ofadoptedhas beenthata major
31,886

Ordinary proﬁt

3,000

businesses
and proﬁtabilityof ourcustomers;
products
basedon thereceived aboutoil-based moldreleasingagents,which arein highdemand in China, especially for the type for(Million yen)objectiveof contributing
positively
the excellent
environment.
thesameapplicationin small amounts
thattooffer
valueAtforthecost.time,
We are also reaping the dividends of trying ourwehandwill inpromotethethroughoptimizationof capital
allocation
picking andnew ﬁelds
the horizontal
deployment
ofby
technology,
such as titanium forging lubricants for aviation
choosing
fromamongofferings
in wayssuch
as eliminatingproducts
parts thatdraw
on theour
insights
we havein diecastingand forging,and battery coolant ﬂuid for EV vehicles that utilize
forourwhich
no growthcanInbeenvisioned.
Andsuchby developingknow-howaboutscenario
refrigerants.
terms
of indicators
as sales volume and proﬁt margins,1,826
we determined that

MORESCOuse
in various wellﬁeldstoandin China.
diverseWe
pricethese newproducts
productsfor
havecontributed
ouravailable
business inare moving forward by singling out as offerings
ranges,we thewillhigh-value-added
prompt our customers
to engage
positively
with thein China
products
that canmore
bettermeet customer
needs.
environment, further strengthen the market position of MORESCO as a

MORESCO (ZHEJIANG) FUNCTIONAL MATERIAL CO., LTD.

FY2026Plan

FY2023

supplier of high value-added products, and improve capital efﬁciency.
We will also steadily achieve results in new business ﬁelds that provide theQ.Whatwas your inintention
the business interests of US lubricants manufacturer Cross?
next foundation for growth. Regarding
nanoemulsion
the ﬁeldinofacquiring
life
science, our desire is to start business operations targeting cosmetics andWe acquired Cross in order to increase our die casting lubricant market share.

supplements during this new Medium-Term Management Plan. Having

already applied for a patent for drugBy
discovery
technology
targeting of die casting lubricant from an outsourced model to an internal one, we havetransitioning
our production
autophagy, we will proceed ahead withnegotiations
to collaborate
with us to supply products in a more stable manner than before. We had been procuring
establisheda systemthat enables
pharmaceutical companies. Expect to see
MORESCOevolveinto an theentitymainlyfrom Cross
silicone,main material that goes into die casting lubricant, so by developing and producing itthat is capable of further contributionsinternallyas we movetheablerealization
wetoward
are now
to develop products that are a more precise ﬁt for the needs of our customers. The resultantof the vision of what we aspire to be.

Hidenori Amaki

functional and cost advantages this gives us relative to our competitors can be expected to further expand our market
share.

Executive Ofﬁcer in charge of North America

Q.What sort of initiatives will you move forward with in order to acquire new sales channels and expand sales in the US?

Highlightsof theThe know-how and insights
of Cross and MORESCO
can beYear
mutually shared in succession,
the combination of which we will apply to the launch of a sales offensive that is far-reaching and yet precise.

Town Carbon Neutral
Sept. Okoppe
Innovation Project adopted

offered by specially appointed
Oct. Lecture
professor Miyasaka of Toin University of Yokohama

We will tap into the advantage we share with Cross in that each of us has bases in either the north or south so that westep up our sales force in both areas. Crossʼ product lineup will be leveraged as a new strength for MORESCO, while
Cross will be able to enhance their ability to provide better solutions through the die casting lubricant, plunger

This four-way joint project between MORESCO,A lecture titled “High Performance Perovskite

Osaka University, the town of Okoppe in

Solar Cells and Development Technologies

lubricants and other strengths that MORESCO boasts. The resultant synergy will enhance the sales capabilities of both
ﬁrms, thus enabling us to increase our presence in the industry. In the US, as sales of new energy vehicles are on the

Hokkaido, and Iwata Chizaki, Inc. was selected

for Film-type
Modules”
wasincrease, demand for hybrid vehicles is also on the rise due to the lack of charging facilities.
By makinga point
ofheld.

for adoption by the Zero Carbon Innovation

M OR
E S CweO wille m develop
p l o y e e as w e r e a b l e t okeeping in close touch in ways such as sharing information on sales performance in eacharea,

Introduction Support Project , anexperience ﬁrsthand the great potential ofsystem that can assuredly meet the needs of both new energy vehicles and hybrid vehicles.

open-application program by the Hokkaido

prefectural government. The innovation project
aims to reduce greenhouse gas emissions andmake new use of biomethane gas.

Cross Technologies Group, Inc.

perovskite solar cells, which are
next-generation solar cells.

nagement,
More Precisely Meets Global Needs
Reduce impact to the environment, starting with us

Promotion of Sustainability Management

In order to now contribute even more to the realization of a sustainable society, our product development will focus on how to contribute to creating a better
environment. By promoting efforts to improve existing products and develop new products, we will increase the sales ratio of MGS products from 29% (inFY2022) to 40% in FY2026, the ﬁnal year of the new Medium-Term Management Plan. We will also continue to provide more effective environmental responsein ways such as aiming to reduce by 2030 the GHG emissions from our own energy consumption by 46% from the 2013 level.

Accelerate the provision of high value-added products

Enhancement of Our Product Portfolio

We will promote the upgrading of our product portfolio by expanding sales of high value-added MGS products. We will also continue ourproactive involvement in the creation of a circular economy system that effectively utilizes resources through the recovery, recycling, andreuse of raw materials and products.

Make progress in new business ﬁelds

Creation of Next-generation Businesses

In order to develop the pillars of MORESCOʼs new businesses, we are in the process of currently researching new business ﬁelds

under a development system that spans divisions and collaborates with industry, government, and academia. Focusing on the
MOLGADC project that addresses ﬁve key research themes, we will rapidly and rigorously scrutinize various themes from which
to pick and choose that which we believe indicate positives such as growth potential and feasibility.

Increase the speed and accuracy of product development

Innovation of Business Processes

Production processes will come under review and efforts will be made to internalize the manufacturing of raw materials. We will promote thedigital transformation of our R&D department with the aim of creating a system to increase the speed and precision of product development sothat we can properly respond to the changes in an increasingly volatile market. As we have had success in one product area in developing new
products based on the results of accumulated data analysis, we are currently promoting this initiative on a cross-divisional basis.

Make the organization more efﬁcient and assuredly proﬁtable

Improvement of the Return on CapitalMore informationon the 10th Medium-Term
Management Plan isavailable here.

Optimizing business operations, we will proceed forward with the process of keeping this an organization that increases return on
invested capital (ROIC) with the aim of earning yet more support and trust from our investors in Japan and overseas. And as we strive
to improve our price to book ratio (PBR), we will assign ever more importance to dialogue with our shareholders in ways such as
upping shareholder returns and consolidating human resource strategies to elevate the business foundation, upgrading investor
relations activities, and issuing an integrated report.

Feb. Brieﬁng held for individual investors

a new measuring device well
Feb. Developed
suited for gas permeation measurement

Company information session for individual

There was development of theinvestors held at The Tokyo Shoken Building

MORESCO-SuperDetectC-S1, a new device(Chuo-ku, Tokyo). The session was attended

equipped with a Cold Cathode Gauge (CCG),

by 204 individual investors, who asked

which functions as a robust and highly sensitive

questions and offered verbal support for

detector. It offers short measuring time and

MORESCO business activities andreduced maintenance frequency as beneﬁts.

performance.

The Work of Strengthening Overseas Business Continues

Pick upquestionsGlobal expansion led by

MORESCOʼs Strategy for China and North America
Q.What kind of initiatives are you focusing on in the Chinese market?

Our main focus is on the development and sales of oil products
for the manufacture of parts for new energy vehicles, as well as research.

In China, we will attempt to enhance production capacity and efﬁciency, while also advancing business developments such as
the manufacturing and sales of products for new energy vehicles and sealants for organic EL by consolidating the functional
ﬂuid production bases in Wuxi and Shanghai into the newly established MORESCO (ZHEJIANG) FUNCTION MATERIAL CO.,LTD., in Haining City. Currently, the main demand in Chinaʼs automotive industry is for oils that have minimal impact on theenvironment and are compatible with the integrated casting (gigacasting) process that has been introduced in recent years.

Liu Yingjin

Executive Ofﬁcer in charge of China

In January of last year, we established an R&D center in Wuxi and have been investing in facilities in ways such as installing
cutting-edge inspection equipment, as well as focusing efforts on human resource development through steps such asreceiving guidance from Japanese researchers and engineers. We are strengthening our development capabilities for gigacast
products from multiple angles. And we have established smart manufacturing lines that will lead to improved production
efﬁciency, while moving forward with initiatives to increase proﬁtability, such as the search for and veriﬁcation of
petrochemical materials in China, which will enable us to reduce procurement costs.

Q.To what extent have those initiatives taken hold in the Chinese market?

In addition to having already launched mold releasing agents compatible with gigacasting, we are also making
progress in new ﬁelds in terms of product development and sales, so our presence in China is steadily on the rise.
The release of releasing agent for gigacast thin large parts (for integrated/structural use) as a product for new energy
vehicles and getting them adopted has been a major achievement this term. We are seeing an increase in inquiries
received about oil-based mold releasing agents, which are in high demand in China, especially for the type forapplication in small amounts that offer excellent value for the cost. We are also reaping the dividends of trying ourhand in new ﬁelds through the horizontal deployment of technology, such as titanium forging lubricants for aviation
parts that draw on the insights we have in die casting and forging, and battery coolant ﬂuid for EV vehicles that utilize
our know-how about refrigerants. In terms of indicators such as sales volume and proﬁt margins, we determined thatthese new products have contributed well to our business in China. We are moving forward by singling out as offeringsin China the high-value-added products that can better meet customer needs.

MORESCO (ZHEJIANG) FUNCTIONAL MATERIAL CO., LTD.

Q.What was your intention in acquiring the business interests of US lubricants manufacturer Cross?

We acquired Cross in order to increase our die casting lubricant market share.
By transitioning our production of die casting lubricant from an outsourced model to an internal one, we haveestablished a system that enables us to supply products in a more stable manner than before. We had been procuring
mainly from Cross silicone, the main material that goes into die casting lubricant, so by developing and producing itinternally we are now able to develop products that are a more precise ﬁt for the needs of our customers. The resultant
functional and cost advantages this gives us relative to our competitors can be expected to further expand our market

Hidenori Amaki

share.

Executive Ofﬁcer in charge of North America

Q.What sort of initiatives will you move forward with in order to acquire new sales channels and expand sales in the US?

The know-how and insights of Cross and MORESCO can be mutually shared in succession,
the combination of which we will apply to the launch of a sales offensive that is far-reaching and yet precise.
We will tap into the advantage we share with Cross in that each of us has bases in either the north or south so that westep up our sales force in both areas. Crossʼ product lineup will be leveraged as a new strength for MORESCO, while
Cross will be able to enhance their ability to provide better solutions through the die casting lubricant, plunger
lubricants and other strengths that MORESCO boasts. The resultant synergy will enhance the sales capabilities of both
ﬁrms, thus enabling us to increase our presence in the industry. In the US, as sales of new energy vehicles are on theincrease, demand for hybrid vehicles is also on the rise due to the lack of charging facilities. By making a point ofkeeping in close touch in ways such as sharing information on sales performance in each area, we will develop asystem that can assuredly meet the needs of both new energy vehicles and hybrid vehicles.

Cross Technologies Group, Inc.

Major Consolidated Financial Indicators
Net Sales and Operating Proﬁt to Net Sales Ratio
Net Sales(Millions of yen)

During the consolidated ﬁscal year under review, the Japanese economy

Operating proﬁt to Operating proﬁt to
net sales ratio
net sales ratio

Net Sales

generally displayed signs of recovery despite personal consumption
dampened by rising prices and exports compromised by the slowdown of（％）

31,88630,33330,00012

27,30024,479economies overseas. Although the US economy started to see the effects

8

20,000of monetary tightening while inﬂation slowed and China implemented

5.3

economic stimulus measures, economies elsewhere in the world4

10,000suggested lingering uncertainty about the future. In addition, signiﬁcant

3.8

3.4

ﬂuctuations in the exchange rate were brought about by the respective

1.7

0monetary policies of Japan and the US.

FY2020

FY2021

FY20220

FY2023

Amid these circumstances, the Group posted net sales of 31,886 million
yen (up 5.1% YoY) and operating proﬁt of 1,225 million yen (up 134.2%

Ordinary Proﬁt and Ordinary to Total Assets Ratio

YoY), a signiﬁcant increase owing to higher sales prices and increased
sales volume overseas. Ordinary proﬁt increased YoY 74.6% to 1,826

Ordinary proﬁt(Millions of yen)million yen, driven by foreign exchange gains and a one-time investment

Ordinary proﬁt

Ordinary proﬁt to Ordinary proﬁt tototal assets ratio
total assets ratio
（％）

3,000

gain from converting a Chinese equity-method afﬁliate into a subsidiary.

20

Proﬁt attributable to owners of the parent rose by 108.8% to 1,283

2,011

million yen, due to recording a gain on negative goodwill in

1,500

extraordinary income.

1,826
10

1,046

1,030
7.4
4.2

0

Overseas Sales and Overseas Sales Ratio
Overseas sales
Overseas sales ratio

Overseas sales(Millions of yen)

12,000

10,484

Overseas sales
ratio
（％）

12,947

11,492

Annual Dividend per Share and Payout Ratio

50
40

8,841

8,000

38.4

36.1

37.9

50
40.6

30

40

FY2020

FY2021

FY2022

FY2023

120
45

74.0

60.4

0

0

90

20

32.4

10
0

40

20

25

4,000

40

150

45

FY2020

FY2021

FY2022

FY2023

FY2022EquityRate of return on equity

20,00015,00017,9620

FY20230Rate of returnon equity（％）

20,126

18,53320

15,89915
10.7

10,000
6.6

60
30

20.8

FY2021Equity and Rate of Return on Equity (ROE)

Annual dividend per share
EquityPayout ratio
Payout ratio(Millions of yen)（％）

Annual dividend
per share(Yen/share)75

FY2020

5.7
3.4

5

5,000
0

10

3.4

3.3

FY2020

FY2021

FY2022

FY20230

Segment Information
By Division
Device Materials

0.6%

Others

5.5%

By Region
US

Functional Fluids

5.0%

51.0%

Others

0.6%

Japan

23.6%

26.4%
FY2023
Sales by division

FY2023
Sales by region

31,88631,886

million yen

million yen

China

11.4%

Liquid parafﬁne& Sulfonates

12.3%

59.4%

Asia (excl. China)

Hot Melt
Adhesives

Synthetic Lubricants

4.2%

News about a Tour of the MORESCO Head Ofﬁce / R&D Center

MORESCO will hold a tour of our Head Ofﬁce / R&D Center for the purpose of providing our shareholders with a deeper
understanding of our company. We would like to take this opportunity to familiarize participants with our R&D activities.

Information on Shareholder Beneﬁts

We at MORESCO offer a shareholder beneﬁt program to show our gratitude to shareholders for their ongoing support, make the Companyʼs shares more
attractive as an investment, and to encourage more people to maintain shares in the Company over the medium to long term.

Outline of the Tour
Site of tour
Tour date and time
Participation fee

Rules for Applying

MORESCO Corporation Head Ofﬁce / R&D Center(5-5-3, Minatojimaminami-machi, Chuo-ku, Kobe-city)

Thu. Sept. 19, 2024, from 11:00 till 15:00
Free of charge (participants are responsible for round-triptransportation to and from the location of the start and ﬁnish of the tour)

Shareholders who hold Company shares as of the end of February

Eligibility

2024 (can be accompanied by up to one person of elementary
school age or older)

Maximum
number ofparticipants

30 (including accompanying individuals)

Deadline
for application

Fri. July 12, 2024

*Should the number of applicants exceed the maximum, a drawing
will be held and only the winners will be notiﬁed by email sometimearound mid-August 2024.

Photographs and videos may not be taken during the tour.

Miscellaneous

Any personal information about shareholders (oraccompanying persons) obtained through application will
be used only as needed for organizing the tour.

For inquiries

Public Relations Department, IR Department, MORESCO Corporation

Tel. 078-303-9058■Hours: 10:00‒17:00 on weekdays (unavailable on Saturdays, Sundays and national holidays)

Shareholder Beneﬁts

Timing of Beneﬁt Delivery

Number of shares held and continuous holding period

Shareholder Beneﬁts

300 shares or more and less than 3 years of continuous ownership

QUO Card worth 3,000 yen

300 shares or more and 3 or more years of continuous holding period QUO Card worth 4,000 yen
Beneﬁts are available to shareholders who hold three units (300 shares) or more of
the Companyʼs stock and are listed or recorded in the shareholdersʼ register as ofthe last day of February every year.

Beneﬁts will be mailed in late May of each year,
enclosed with the business report.
For details, please see the Shareholder Beneﬁt
Information section on our website.

Contact for conﬁrmation of MORESCO share holding period Osaka Corporate Agency Division, Mitsubishi UFJ Trust and Banking Corporation TEL: 0120-094-777 (toll free)

Shareholder Memo

Company Proﬁle and Stock Information (As of February 29, 2024)■Company Proﬁle■Situation of Stock■Fiscal year

Company name : MORESCO Corporation

Total number of authorized stocks: 20,000,000

Establishment: October 27, 1958

Total number of stocks outstanding: 9,696,500

Capital: 2,118,294,000 yen

Number of shareholders: 15,635

Number of employees : 387■Head Ofﬁce and Business Ofﬁces
Head Ofﬁce & R&D Center :5-5-3,Minatojimaminami-machi, Chuo-ku,
Kobe-city, Hyogo 650-0047 Japan

March 1 through the last day of February of the following year
■Shareholder Fixed Date for Year-end Dividend Receipt
End of Feb.
(In the case of interim dividends)
August 31■Distribution of Shares by Shareholder

Companies trading in ﬁnancial instruments■Ordinary General Meeting of Shareholders

Foreign corporations, etc.

■Administrator of shareholder registry and

0.58％

Treasury stock

4.78％

2.28％

Telephone: 078-303-9010 (main contact number)
Branch:Tokyo Branch, Osaka Branch

Sales Ofﬁce:Nagoya Sales Ofﬁce

Plants:Chiba Plant, Akoh Plant

May every year

account management institution for special accounts
Mitsubishi UFJ Trust and Banking Corporation

Individuals
and others

Stocks outstanding
Total number of stocks

52.10％

Financial Institutions

9.30％

9,696,500

Mitsubishi UFJ Trust and Banking Corporation

3-6-3 Fushimi-cho, Chuo-ku, Osaka-shi,

30.96％

Motohisa Morozumi

CEO, Representative Director, President

Nobuhiro Sewaki

COO, Director, Senior Managing Executive Ofﬁcer

Yasuo Sakane

CTO, Director, Managing Executive Ofﬁcer

Hirofumi Fujimoto

CFO, Director, Senior Executive Ofﬁcer

MATSUMURA OIL Co., Ltd.

Jiro Hosomi

Director, Executive Ofﬁcer

COSMO OIL LUBRICANTS CO., LTD.

503,000

5.4%

Hiroko Fuji

Outside Director

MORESCO Employee Stock Ownership Plan

412,120

4.4%

Mikio Honda

Director, Audit and Supervisory Committee Member

NIPPON SODA CO., LTD.

365,000

3.9%

The Master Trust Bank of Japan, Ltd. (Trust Account)

351,000

3.8%

Kazuo Machigaki

Outside Director, Audit and Supervisory Committee Member

STARLITE Co., Ltd.

326,000

3.5%

Mikio Nakajo

Outside Director, Audit and Supervisory Committee Member

Mizuho Bank, Ltd.

250,000

2.7%

Hidetoshi Nakatsuka

Outside Director, Audit and Supervisory Committee Member

MUFG Bank, Ltd.

250,000

2.7%

Osaka Small and Medium Business Investment & Consultation Co., Ltd.

209,600

2.2%

Shima Trading Co., LTD.

165,000

1.7%

Osaka 541-8502 Japan
Telephone: 0120-094-777 (toll free)■Listed Stock Exchanges■Major Shareholders
Name of shareholders■Contact information

Osaka Corporate Agency Division
Other corporations■Directors(As of May 30, 2024)

Caveats

Shareholder
BeneﬁtInformation

Tokyo Stock Exchange
Number of stocks
1,067,000

Investment ratio
11.5%

Method of Public Notice
Public notice will be made electronically.
URL for public notice:https://www.moresco.co.jp/ir/notice.php(In the event of an accident or other unavoidable
circumstances that preclude electronic public notice, public
notice will be given in the Nihon Keizai Shimbun.)

Note: The investment ratio is computed by excluding 463,720 shares of treasury stock.

◎ Regarding changes of address, purchase requests and any other such procedures, the basic rule is that shareholders are asked to contact the securities company or other organization where they opened
their account. Note that the administrator of shareholder registry (Mitsubishi UFJ Trust and Banking Corporation) is unable to process such procedures.
◎ For any procedures regarding shares recorded in special accounts, please contact Mitsubishi UFJ Trust and Banking Corporation, which is the management institution for special accounts. The Mitsubishi
UFJ Trust and Banking Corporation head ofﬁce and branches nationwide will also be able to assist with these procedures.
◎ Dividends that have not yet been received will be paid at the Mitsubishi UFJ Trust and Banking Corporation head ofﬁce and branches.