Corporate Profile 2024
Year Ended March 31, 2024

Contents

Compilation Policy

Business・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・２
About S.T.CORPORATION ・・・・・・・・・・・・・・・・・・・・・３
Information by Business ・・・・・・・・・・・・・・・・・・・・９
Systems for Overseeing and Supporting Business Administration １９
Sustainability・・・・・・・・・・・・・・・・・・・・・・・・・・２３
Information by Sustainability ・・・・・・・・・・・・・・・・２４Company Information ・・・・・・・・・・・・・・・・・・・・・２７(As of June 19, 2024)[Target Organizations] The report on our company, or the S.T. Group (consolidated), if not mentioned. The “S.T.
Group” means the entire S.T. Group, the “S.T. Group (in Japan)” means S.T. (non-consolidated) and groupcompanies in Japan, and the “S.T. (non-consolidated)” means S.T. Corporation (non-consolidated).
[Target Period] April 1, 2023 to March 31, 2024
Note: Fiscal years in this report are based on S.T. CORPORATION’s fiscal year ending March 31.
[Forward-looking Statement] This report contains forward-looking statements regarding
S.T. CORPORATION’s future plans, strategies, and performance. Such forward-looking statements are based on
information available as of the issuance of this report. Please note that the Company’s actual performance may
differ greatly from forward-looking statements due to the economic situation, business environment, market
demand, and foreign currency exchange rate fluctuations in the future.
[Market Size, Market Shares, Seasonal Indices] Market size, market shares, and seasonal indices are based on thedata of INTAGE Inc.’s SRI+ (in value terms) for “deodorizers (for refrigerators)” during a 3-year period from 2021
to 2023, “mothproofing agents for food” during a 5-year period from 2019 to 2023, “disposable warmers, excluding
those for the eye parts” during a 1-year period from April 2023 to March 2024, other items during a period fromJanuary to December 2023, “deodorizers and air fresheners (excluding those for clothes and anti-virus ones)” and“mothproofing agents (excluding those for dolls).”

Copyright © S.T. Corporation. All rights reserved.

1

Business

Copyright © S.T. Corporation. All rights reserved.

2

About S.T. CORPORATION
Contents
１

Strengths and Salient Features

２

Business Overview

３

Financial Highlights

１

４

Financial Highlights

２（Category Information）・・・７

５

Non-Financial Highlights（ESG Information） ・・・・・８

Copyright © S.T. Corporation. All rights reserved.

・・・・・・・・・・・４

・・・・・・・・・・・・・・・・・５
・・・・・・・・・・・・・・６

3

Strengths and Salient Features

A Manufacturer of Miscellaneous Daily Goods
that Focuses on Niche Markets≪Boasting a Large Number of Unique and Robust Brands≫
A trusted major brandthat protects clothing
The Company’s
flagship megabrand

Dehumidifier brandTop brand insect
repellent for rice

Top brand inrefrigerator deodorizers≪SHOSHURIKI≫≪DASHUTANCHARCOAL≫≪KOMETOBAN≫≪MUSHUDA≫≪DRYPET≫・Grasping people’s imagination when they hear about, see and use our products≪the driving force behind our product development activities≫
Copyright © S.T. Corporation. All rights reserved.

4

Business Overview
Business by Categories

Composition of
Net Sales

Strengths

Ｍａｒｋｅｔ Ｓｈａｒｅ

Ｒｅｆｒｉｇｅｒａｔｏｒ
Deodorizers
82％（1）

Existing Businesses

AIR Care

４５％

・Shoshu-Riki
・Dashu-Tan

CLOTH Care

１６％・Mushuda
・Neopara

Mothproofing Agents
52％（1）

・Earnings Source
・Foundation Business

THERMAL Care

９％・Onpacks
・On Style

Disposable Warmers
14％（3）

・Winter Product・Results Managed at the
Point-of-sale

HAND Care

１３％・Family
・Modelobe

Household Gloves
20％（2）

・Foundation Business・Sold for Commercial use

HUMIDITY Care

７％

・Drypet・Bincho-Tan Drypet

Dehumidifiers
32％（1）

・Market Created by theCompany

１０％・Kome-Touban
・S.T.PetHOME Care
Overseas

Air Fresheners
25％（3）

Salient Features

Rice Storage Insect Infestation
Protection Product84%（1)

・Growth Driver・Division Coordinating Efforts
to Nurture New Products

・The ratio of overseas sales is 6%. We strengthen global business as another driver of growth.

Promoting Capital andBusiness Alliances

・We concluded contracts for capital and business tie-ups with FUMAKILLA LIMITED and NS FaFa Japan Co., Ltd.

Development of New
Businesses

・Develop the Clear Forest brand, and Pet product.

Copyright © S.T. Corporation. All rights reserved.

5

Financial Highlights （１）Net Sales

Operating Income

Beginning with the fiscal year ended March 31, 2022, we have applied the new accounting standards.

Beginning with the fiscal year ended March 31, 2022, we have applied the new accounting standards.

(Billions of yen)(Billions of yen )

60.0

47.5

50.0

49.6

3.9

4

45.4

45.5

3.3

44.4

3.2

3

40.0
30.0

2.4

2
1.3

20.0
1

10.0
0.0

FY20

FY21

FY22

FY23

FY24

0

FY20

FY21

FY22

FY23

FY24

ＲＯＥ / ＲＯＡ

Profit Attributable to Owners of Parent
Beginning with the fiscal year ended March 31, 2022, we have applied the new accounting standards.

(Millions of yen)

3,000
2,500

2,261

10

2,525

6

1,274

1,109

1,500

2

500

0

FY21

FY22

FY23

8.3

7.8

8.2

FY24

-2

ROA

7.6
6.0
4.2
5.7

4

1,000

FY20

7.8

8

1,828

2,000

0

ROE

（％）
12

3.9

3.5

FY20

*The figures are rounded down.

Copyright © S.T. Corporation. All rights reserved.

FY21

FY22

FY23

FY24

6

Financial Highlights （2）（Category Information）
Overview by Products

Overview by Geographic Region≪Net Sales by Products ≫ (FY2024)≪Breakdown of Sales by Region≫ （FY2024）■ AIR Care

45.5％

■ CLOTH Care

16.1％

■ THERMAL Car

9.5％■ Japan

93.6％■ HAND Care

12.7％

■ Overseas

6.4％■ HUMIDITY Care

6.5％

■ HOME Care

9.7％

≪Market Share by Categories≫ (2023)

MarketMarket ShareRank

Air Fresheners

25 ％

3

Mothproofing Agents

52 ％

1

Dehumidifiers

32 ％

1

Deodorizers

82 ％

1

Household Gloves

20 ％

2

Disposable Warmers

14 ％

3

≪Net Sales by Overseas Region≫ （FY2024 Non-Consolidated）

Copyright © S.T. Corporation. All rights reserved.

■ Asia39.4％■ U.S.

41.0％■ Europe

8.6％■ Other

11.0％

7Non-financial Highlights（ESG Information）
Total CO2 emissions (Scopes 1 and 2)

Total weight of waste*The CO2 emissions from our domestic business establishments in Scopes 1 and 2 were estimated.
*For the estimation of emissions in Scope 2 derived from purchased electric power, the consumption of power generated
from renewable energy was multiplied by the adjusted emission factor for each kind of electric power and the consumptionof other power was multiplied by the average emission factor in Japan and the sum of them was defined as CO 2 emissions
until FY 3/2022. From FY 3/2023, the calculation using the adjusted emission factor for each kind of electric power wasbasically conducted, but the average emission factor in Japan was used for power generated from uncertain energy.
*The figures are rounded down.

Scope1（t-CO2）

Scope2

5,000
4,000
3,000
2,000

Establishment of STM Co., Ltd.
（t）

1,500

4,038

3,863

1,329

Purchase of renewable energy

1,200

2,891

3,055

1,913

2,096

1,505
584

1,432

1,362

FY22

FY23

1,556

1,183

900

3,066

2,907

972

956

978

959

921

FY20

FY21

FY22

FY23

FY24

1,000

0

*The subject organization is S.T. Group (in Japan).

600

300
0

FY20

FY21

FY24

Ratio of independent outside directors
Ratio of female directors

Ratio of female managers※The subject organization is S.T. Group (in Japan)

Ratio of independent outside directors
Ratio of female directors

（％）

17.7
18
15
12
9
6
3
0

15.1
10.9

FY20

10.2

FY21

11.5

FY22

FY23

FY24

（％）
70

60
50
40
30
20
10
0

55.6

33.3

FY20

Copyright © S.T. Corporation. All rights reserved.

50.0

50.0

50.0

40.0

37.5

33.3

30.0

FY21

55.6

FY22

FY23

FY24
8

Information by Business
Contents
１

AIR Care（Air Fresheners and Deodorizers）・・・・・１０

２

CLOTH Care（Mothproofing Agents） ・・・・・・・・・１１

３

THERMAL Care（Disposable Warmers）・・・・・・・・・１２

４

HAND Care（Household Gloves） ・・・・・・・・・・・１３

５ HUMIDITY Care（Dehumidifiers） ・・ ・・・・・・・・１４
６

HOME Care（Others） ・・・・・・・・・・・・・・・・１５

７Strengthen Global Business・・・・・・・・・・・・・１６

８

Promoting Capital and Business Alliances

９

Promoting New Businesses・・・・・・・・・・・・・・１８

Copyright © S.T. Corporation. All rights reserved.

・・・・・１７9

AIR Care（Air Fresheners and Deodorizers）
Trends in Market Scale and Share

Trends in Net Sales(Air fresheners include the ones for vehicles, but do not include cleaners for clothes and toilet tanks.)

Beginning with the fiscal year ended March 31, 2022, we have applied the new accounting standards.
*The figures are rounded down.

Market scale(Billions of yen )

Share

120
91.1

100

93.5

93.0

92.8

89.9

80

(Billions of yen )
（％）
100

25.0

80

20.0

60

15.0

40

10.0

20

5.0

0

0.0

21.0

21.3

FY20

FY21

19.9

20.0

20.2

FY22

FY23

FY24

60
24.8

24.3

24.0

23.3

40

24.5

20
0

2019

2020

2021

2022

2023

Seasonal IndicesSalient Business Features and Strengths
Business bolstered by the positive effects of uniquetelevision commercials and promotional activities that
continue to attract interest as topics of conversation.
2022

（％）

2023

14
12
10
8

6.8

6.3

6

4

7.4

7.1

6.0

5.8

Jan.

Feb.

8.1
8.0

8.9

9.3

8.6

9.1

May.

Jun.

10.1 10.2
10.0

9.8

9.9

9.1

8.4
7.2

9.2

8.5

8.7
7.5

2
0

Mar.

Apr.

Jul.

Aug.

Sep.

Oct.

Nov.

Dec.

SHOSHURIKI
PREMIUM
AROMA FORROOM

Copyright © S.T. Corporation. All rights reserved.

SHOSHURIKI
SPRAY
FOR TOILETSHOSHURIKI
PREMIUMAROMAFOR SLEEPDASHUTANCHARCOAL

10CLOTH Care（Mothproofing Agents）
Trends in Market Scale and Share

Trends in Net Sales
Beginning with the fiscal year ended March 31, 2022, we have applied the new accounting standards.
*The figures are rounded down.

Market scale(Billions of yen )

25

22.3

21.3

20.2

20
15

(Billions of yen )
（％）
120

24.2

23.6

Share

100
80

52.6

53.1

52.4

52.1

51.8

60

10

40

5

20

0

2019

2020

2021

2022

2023

0

Seasonal Indices

12.0
9.2

9.4

9.0

8.2

7.9

FY22

FY23

7.1

6.0
3.0
0.0

FY20

FY21

FY24

Salient Business Features and Strengths
Business bolstered by the positive effects of uniquetelevision commercials and promotional activities that
continue to attract interest as topics of conversation.
2022

（％）

18

15.1

15

13.9

12

10.1 13.1
13.3

9
6

3.9

3.3

3.8

Jan.

Feb.

3
0

15.2
14.2

8.9

10.2
3.5

8.2
5.9

8.4
6.6

Mar.

Apr.

May.

2023

Jun.

Jul.

5.2

6.7
5.0

7.6

7.6
5.4

5.1
Aug.

Sep.

Oct.

Nov.

Dec.

MUSHUDAMITE
REPELLENT

Copyright © S.T. Corporation. All rights reserved.

MUSHUDA FOR
1 YEARFOR CLOSETMUSHUDACOVER
FOR 1 YEARFOR SUIT /JACKET

MUSHUDAPREMIUM AROMA
FOR 1 YEAR
11
FOR CLOSETTHERMAL Care（Disposable Warmers）
Trends in Market Scale and Share

Trends in Net Sales(Excluding Medical Use)

Beginning with the fiscal year ended March 31, 2022, we have applied the new accounting standards.
*The figures are rounded down.

(Billions of yen )Market scale

50
40

25.9

30
20

(Billions of yen )
（％）
100

90
80
70
60
50
40
30
20
10
0

32.7

19.3

17.2

16.5

16.8

13.9

2019

2020

2021

2022

2023

10
0

33.8

32.5

28.2

Share

Seasonal Indices

8.0
6.0
4.3

4.4

4.3

FY20

FY21

FY22

4.7

4.2

4.0
2.0
0.0

FY23

FY24

Salient Business Features and Strengths
2022

（％）

2023

31.7
27.0

30
14.3

20
10
0

-10

1.8

1.0

1.8

0.9

Apr.

May.

0.6

0.3

0.3

0.7

26.7 25.5 15.0
9.6

6.5

16.6

9.7

3.9

4.8
0.5

0.3

0.2

0.5

Jun.

Jul.

Aug.

Sep.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

ONPAX
BODY WARMER
CLOTHINGADHESIVE

Copyright © S.T. Corporation. All rights reserved.

ONPAX
HAND WARMERONPAXTOE WARMERSONSTYLEABDOMENWARMER

12

HAND Care（Household Gloves）
Trends in Household Glove Market Scale and Share

Trends in Net Sales
Beginning with the fiscal year ended March 31, 2022, we have applied the new accounting standards.
*The figures are rounded down.

(Billions of yen )Market scale30
22.5.0

25
20

20.8

Share

(Billions of yen )
（％）
100

80

20.3

17.6

15.1

6.0

6.9
5.8

5.8

5.6

FY22

FY23

FY24

5.7

60

15

4.0
20.6

10

20.7

19.2

19.9

19.4

5
0

8.0

2019

2020

2021

2022

2023

40
20

2.0

0

0.0

Seasonal Indices

FY20

FY21

Salient Business Features and Strengths
2022

（％）

21

2023

18
15
12

11.5
9.3

9
6

9.3

8.0

8.1

8.2

8.2

7.8

7.8

7.4

8.6

8.4

8.0

8.1

7.3

7.7

8.1

7.4

8.1

8.2

7.2

7.8

7.8

11.5

3
0

Jan.

Feb.

Mar.

Apr.

May.

Jun.

Jul.

Aug.

Sep.

Oct.

Nov.

Dec.

FAMILYFAMILY VINYL
VINYL THIN
MEDIUM-THICK
FINGERTIP
FINGERTIP
ANTIVIRUS
REINFORCED GLOVEPROCESSING GLOVE

Copyright © S.T. Corporation. All rights reserved.

FAMILY VINYLPRIMA GLOVE

ONE-TIME USE
POLYETHYLENEULTRATHIN GLOVE

13

HUMIDITY Care （Dehumidifiers）
Trends in Market Scale and Share

Trends in Net Sales
Beginning with the fiscal year ended March 31, 2022, we have applied the new accounting standards.
*The figures are rounded down.

(Billions of yen )(Billions of yen )

15

12.1

10.9

11.4

Market scale

Share

11.2

11.6

10
38.1

36.4

33.7

32.5

31.5

5

0

2019

2020

2021

2022

2023

（％）
100

90
80
70
60
50
40
30
20
10
0

Seasonal Indices
2022

11.6
7.8
5.4
3.9

3.5

Jan.

Feb.

Mar.

Apr.

3.0

3.4

2.9

2.8

FY22

FY23

FY24

2.0

1.0
0.0

FY20

FY21

10.3

13.5 12.3
9.9

10.3 10.3

9.9

10.0

11.9 11.3
10.1

5.7
4.0

3.3

2023

7.5

3.4

3.3

Salient Business Features and Strengths

（％）

16
14
12
10
8
6
4
2
0

4.0

May.

Jun.

Jul.

Aug.

Sep.

Oct.

6.5

7.6

6.8

6.6

Nov.

Dec.

Source: S.T. CORPORATIONDRYPET
COMPACT

Copyright © S.T. Corporation. All rights reserved.

DRYPET
FOR CLOSET

BINCHOTANCHARCOALDRYPET
FOR SHOES

DRYPET CLEAR

14

HOME Care（Others）
Trends in Washing Tub Cleaner Market Scale and Share
(Billions of yen )

15.0

10.0

8.6

10.3

10.1

(Billions of yen )Market scale

Share

10.9

11.0

5.0

0.0

5.7

6.0

9.8

2019

2020

2021

9.1

8.8

2022

2023

Trends in Rice Storage Insect Infestation Protection
Product Market Scale and Share

Trends in Net Sales

（％）
100

5

80

4

60

3

40

2

20

1

0

0

Market scale

Share

88.6

100.0

2.7

80.0

80.1

80.3

83.3

86.6

2.1

2.3.0

2.3

2.4

（％）
120.0

60.0
40.0
20.0

2019

2020

2021

2022

2023

0.0

Salient Business Features and Strengths

Beginning with the fiscal year ended March 31, 2022, we have applied the new accounting standards.
*The figures are rounded down.

(Billions of yen )

5.0

4.0

3.7

4.0

4.2

4.2

4.3

FY21

FY22

FY23

FY24

3.0
2.0
1.0
0.0

FY20

SENJORIKI FIZZYWASHING MACHINEDRUM CLEANER

Copyright © S.T. Corporation. All rights reserved.

KOMETOBANSHINSENBAN

S.T.PETJIKKANSHOSHU
CAT LITTER SYSTEM REFILLDEODORIZING CHIPS

15

Strengthen Global Business
Trends in Overseas Sales and the Ratioof Overseas Sales to Total Net Sales*The figures are rounded down.

*Before adoption of Accounting Standard for Revenue Recognition(Billions of yen )Overseas sales

Breakdown of Sales by Overseas Region(Non-Consolidated) (FY2023)

Ratio of overseas sales to total net sales

4.0

20.0
（％）
2.9

3.0
2.0

6.1

2.9

6.0

3.1

3.0

3.0
15.0

6.5

6.4

6.3

1.0
0.0

FY21

FY22

FY23

FY24

39.4％

■ U.S.

41.0％■ Europe

8.6％■ Other

11.0％

10.0
5.0

FY20

■ Asia0.0

Overseas BasesCountry

Company Name

Principal Business Activities

Aekyung S.T. Co., Ltd. （South Korea）

Sale of deodorizers and air fresheners/household goods

S.T. Korea Corporation （South Korea）

Production of deodorizers and air
fresheners/dehumidifiers❷ Taiwan

Family Glove Co., Ltd. （Taiwan) ※1

Production and sale of gloves❸ Thailand

S.T. （Thailand） Co., Ltd.※2

Production of deodorizers and air fresheners/gloves

Shaldan （Thailand） Co., Ltd.

Production and sale of deodorants and homecare
products❶ South Korea

Notes:1. ISO14001/9001-certified plants❶❸❷

2. ISO9001-certified plants

Copyright © S.T. Corporation. All rights reserved.

16

Promoting Capital and Business Alliances
Taking full advantage of the complementary nature of the three companies’ operating domains, efforts
are being made to ensure mutual growth and development as well as increased profitability.
5.00%

Details of the Business Alliance
Development: Joint research and development utilizing the research technologies andknow-how of all three companies.
Sales and Marketing: Mutual use of each company’s sales and marketing channels inJapan and overseas; sales promotional support as well as joint activities.
Procurement: Mutual use of each company’s manufacturing facilities in Japan andoverseas; reduction in costs through the sharing and standardization of materials
across-the-boar.
Logistics: Reduction in costs through the mutual use of logistics infrastructure.

NS FaFa Japan
Co., Ltd.
25.00%FUMAKILLA
LIMITED
10.48%

2.35%

S.T. CORPORATION
Shareholding ratio (as of March 2016)

S.T. CORPORATIONBusiness
Details

FUMAKILLA LIMITEDNS FaFa Japan Co., Ltd.

Production and sale of deodorizers
and air fresheners/mothproofing
agents/gloves/dehumidifiers andrelated products.

Production and sale ofpesticides/householdproducts/gardening supplies andrelated products.

Production and sale of clothing
detergents/fabric softeners/personalcare products.

◎ Shoshu-Riki series◎ Mushuda series◎ Drypet series◎ Vape series◎ Barrier series of insect repellents◎ Kadan series☆ Excellent research and development
capabilities☆ Good performance in overseas
markets◎ FaFa series◎ Workers series◎ “Make a new habit !” series

Strengths☆ Boasts numerous leading brands☆ Outstanding marketing and sales
capabilities

Copyright © S.T. Corporation. All rights reserved.

☆ Strong expertise in developing
environmentally conscious products☆ Boasts numerous annual merchandise17

Promoting New Businesses
Addressing Social and Environmental Issues Through Collaboration with Research Institutes and Local Communities

The Four Effects of a
Functional Tree Extract
・Reduce air pollution
・Promote an antioxidant function
・Eliminate odors
・Promote a forest bathing effectComparative Analysis of the Nitrogen Dioxide
The S.T. CORPORATION Group’s Japan Aroma Laboratory Co., Ltd. has
Removal Capability Using Essential Tree Oil Gas
been working in cooperation with the Forestry and Forest Products
Research Institute to research and develop functional tree extracts. This
Hiba oil
initiative also marked the start of our technology brand called the Clear■ 120 minutes after mixing■ 30 minutes after mixing
Forest.
Japanese cypress oil
This functional tree extract helps to purify the air of car exhaust and other
Cedar oilemissions while reducing environmental air-borne pollutants such as
nitrogen dioxide （NO2）, which are recognized as a major cause of poor
Eucalyptus oilhealth including asthma. Moreover, the functional tree extract boasts other
Sakhalin fir leaf oil
positive attributes including an antioxidant function and a forest bathing
effect while facilitating the elimination of odors.
Japanese cypress leaf oil
In the Clear Forest business, we aim to create a new market, cooperate
Cedar leaf oilwith existing business sections, and so on, based on the new value of
purifying such contaminated air.
Removal ratio（%）

Overview of the Clear Forest Business
Operating
Processes

Collecting and Transporting
Residual Materials

Extracting Essential Liquid
and Purified Water

Crushing and Packaging⇒⇒

Quality Control⇒

Developing Products⇒

Operating Details
・Collect foliage and trimmings（residual materials）abandonedin forestlands
・Transportation

Partners
Intellectual
Property

・Sort residual materials andpackage into bags for removal

・Extract
・Manage

HOKUTO Co., Ltd
The transportation of residual
forestland materials, other

Extraction equipment, other

Copyright © S.T. Corporation. All rights reserved.

・Check ingredient quality
・Check for controlled
substances
JIRA （essence）

Japan Aroma LaboratoryCo., Ltd・Develop, manufacture, andmarket products

S.T. CORPORATION

Ingredients, other18

Systems for Overseeing
and Supporting Business
Administration
Contents
１

Corporate Governance（１）・・・・・・・・・・・・・２０

２

Corporate Governance（２）・・・・・・・・・・・・・２１

３

Risk Management and Compliance

Copyright © S.T. Corporation. All rights reserved.

・・・・・・・・・・２２

19

Corporate Governance （1）We consider that Corporate Governance is a Systems for Overseeing Administration for Sustainable Co-growth of Enterprises and Society.
≪Description of Corporate Governance≫
We are aiming for the sustainable co-growth of enterprises and society. We think of corporate
governance as a system that supervises our activities toward that goals.It is important todevelop an environment for securing the transparency and fairness of management facilitating
active decision making, and disclosing information properly. We recognize that shareholders,society and the environment entrust us with valuable managerial resources, and aim to realize
the sustainable growth of society and the environment and create corporate value in themedium to long terms, in cooperation with stakeholders, and will fulfill our accountability.

≪Overview of Corporate Governance≫≪Development of Corporate Governance System≫
In June 2004, in order to enhance oversight function of the Board of Directors and the qualityof management and enrich management practices such as prompt decision-making and agile
execution of operation, the Company was reorganized into a company with committees(currently company with three committees), which is more transparent and fair and in which
outside directors account for the majority of board members. In June 2008, a female director
was appointed for the first time, and in June 2024, female directors make up 22% of the board .
In addition, we appoint outside directors with a wide array of knowledge, experience and skills
such as management, marketing, accounting and legal affairs, etc. Since 2015, a board
evaluation has been also conducted on annual basis to improve the effectiveness of the Board.

Number of Board Meetings
Held per Year
Average Attendance Rateof Board Meetings

Governance Type

Company with three committees

Number of Board Members

9

Number of Outside Directors

5 (55.6%)

Number of Independent Outside
Directors

5 (Notified as the independent outside directors
designated by the Tokyo Stock Exchange)

Board Diversity

3 female directors (33.3%)
13 times
100%

Director’s Term

1 yearChairman and CEO

One person serving as both
5 members (3 outside directors; chaired by an outside
director; meetings held 7 times per year）
5 members (5 outside directors; chaired by an outside
director; meetings held 6 times per year)
4 members (3 outside directors; chaired by an outside
director, meetings held 6 times per year)

Nomination Committee
Audit Committee
Compensation Committee

2004: Company with Committees
2008: Appointment of Female Directors
2015: Evaluation of the Board of Directors(Years Ended March, 31.2024)≪Corporate Governance Structure≫

Strengthening
Corporate Governance≪Remunerations of Directors and Executive Officers≫
The Compensation Committee sets and determines the remuneration policy. The remuneration
system was revised on April 30, 2015 at the Compensation Committee, so that executive will
be able to align interests with shareholders as they seek sustainable mid-term to long-term
growth of corporate value. Moving towards the goal of mutual interests with shareholders,points are given to executive officers according to business results of each term, and a share
remuneration system is adopted where shares are provided upon their retirement as part of a
medium to long-term incentive.

General Meeting of Shareholders
Election/Dismissal

Election/Dismissal
Accounting Auditors
Accounting Audit

Audit Committee

Board of Directors（Audit Committee Office）
Election/Dismissal

Internal Audit OfficeNomination Committee

Representative Executive Officers

Compensation Committee

Executive Officer Meeting

Executive Officers in Charge

Executive Officers in Charge

Operating Divisions

Group Companies

Copyright © S.T. Corporation. All rights reserved.

20

Corporate Governance （２）≪Board Composition≫
Directors(As of June 18, 2024 )Nomination
Committee

Audit
Committee

Compensation
Committee≪Areas of Executive Officer Responsibility≫

Name
Executive Officers

Chairman of the Board○

Seiichi Nishida ◎○○Director
Director（Outside Director）☆
Director（Outside Director）☆
Director（Outside Director）☆

●

○

○

○

○

○

●

○

Director（Outside Director）☆

○●

5
members4
members5
members

Name

President & CEO

Overall management
In charge of New Business Development
and Strategic Investment Office,Customer Relation Office

Yo Kozuki ◎Executive Vice
President & CDO*

In charge of the Corporate Value Enhancing Division

Seiichi Nishida ◎Managing Executive
Officer

In charge of the Business Administration Division **and responsible for Domestic Group Companies

Koichi Yoshizawa ◎Executive Officer

In charge of the Business Administration Division
and Division Director the Business Administration
Division

Naruaki Hashimoto

Executive Officer

In charge of the Manufacturing Division
and Total Quality Management Division

Hideki Naito

Executive Officer

In charge of the Business Division 1
and the Research & Development Division

Yosuke Maeda

Executive Officer

In charge of the Business Division 2
and the Marketing Planning Division,and the International Business Division
and Division Director the Business Division 2
and Marketing Planning Division
and General Manager Aroma Business Development
SectionKazunari Yamamoto ◎Executive Officer

In charge of the Sales Division,and Division Director Sales Division

Yukihiro Takayama

Shinzo Maeda

Shoichiro Iwata

Hiroko Noda

Director（Outside Director）☆

9 directors （Five of whom areoutside directors）

Koichi Yoshizawa ◎Kazunari Yamamoto ◎○Responsibilities

Yo Kozuki ◎Director
Director(As of June 18, 2024 )Yoko Wachi

Masayoshi Miyanaga●： Chairperson 〇： Committee member ◎： Holds the concurrent position of executive officer☆: Independent Outside Director◎：Holds the concurrent position of director*：Chief Digital Officer**：responsible for supervising the Division

Copyright © S.T. Corporation. All rights reserved.

21

Risk Management and Compliance
Compliance≪Approach to Compliance≫
Compliance is the foundation not only for corporate activities, but also for social
activities, and without it, neither the comfortable and prosperous lives of ourcustomers nor the survival of our company would be possible. Our corporategroup not only adheres to laws and regulations, but also respects internal andexternal rules, ethics, and social norms. By practicing our corporate philosophy
and code of conduct, we align our actions with societal demand and strive tomeet our group's expectations. This approach is aimed at maintaining andenhancing the trust of all stakeholders and becoming a company loved bycustomers and societies around the world.

Internal Control
With regard to the internal control of our corporate group, we will develop andcontinuously improve the systems necessary to ensure the reliability of financial
reporting, to ensure the appropriateness and efficiency of organizational operations, tocomply with laws and regulations related to corporate activities and internal rules, andto ensure the appropriateness of the operations of
our entire corporate group.

Risk Management≪Approach to Risk Management≫
S.T. Group conducts risk management for preventing various management risks
surrounding our company and minimizing possible damages. In recent years, thedemand for sustainability has increased, further amplifying the business risks≪Compliance System≫
surrounding corporations. Our group addresses these risks by managing them
Our compliance management structure includes a Human Rights Complianceappropriately, thus realizing sustainable growth and enhancing corporate value.
Committee, which manages human rights initiatives along with other compliance
We have established a risk management system to identify such risks that may affectmatters, and is established under the Sustainability Council that centrally
management and to appropriately address and manage them.
≪Risk Management System≫
manages all risks. Regarding roles and responsibilities, the committee is chaired
Our organizational structure for risk management places the Sustainability Council
by the executive officer in charge of the Corporate Value Enhancing
directly under the Board of Executive Officers. Under this council, we have established
Headquarters, which oversees human resources and legal affair, manages
committees for managing risks related to different issues, including the Risk
compliance-related risks. The members primarily consist of the heads of various
Management Committee, Environmental Committee, Human Rights Compliancedepartments within our corporate group. The Human Resources & General
Committee, Health Committee, and Product Liability (PL) Committee. The Sustainability
Affairs Department is in charge of the secretariat, which provides management
Council, chaired by the President & CEO, oversees all risk management activities, withand support, as well as awareness-raising and education for the entire group.
the President & CEO serving as the highest authority responsible for risk management.
The members of the council are executives, with specific executives responding
Regarding reporting, we hold the Human Rights Compliance Committee meetings
according to the nature of the risk. The secretariat of the Sustainability Council isfive times a year. The chair reports the activities and decisions of thesemanaged by the Management Planning Department, which handles operations andmeetings to the Sustainability Council, as well as updating the Audit Committee
support. Regarding reporting, the Sustainability Council meets quarterly to deliberateon the status of the committeeʼs activities. The head of the Audit Office isand decide on matters, and the chairperson reports these to the Board of Directors.
responsible for the examination and reports to the President and CEO and the
The head of the Audit Office is responsible for the examination and reports to the
Audit Committee. The head of the Audit Office will make suggestions andPresident and CEO and the Audit Committee. The head of the Audit Office will makerecommendations to the executive officers in charge as necessary.
suggestions and recommendations to the executive officers in charge as necessary.
22
Copyright © S.T. Corporation. All rights reserved.

Sustainability

Copyright © S.T. Corporation. All rights reserved.

23

Information by Sustainability
Contents
１

Basic Information ・・・・・・・・・・・・・・・・・２５

２Primary Measures

Copyright © S.T. Corporation. All rights reserved.

・・・・・・・・・・・・・・・・・２６24

Basic Information
Corporate Philosophy

Management Philosophy
1．To fulfill our mission of giving our service to society
and earning society's trust, S.T. constantly works to
improve its products, and to create unique products that
our customers can trust absolutely.

誠実
Sincerity

2．To achieve the company's sustained prosperity, S.T.
ensures its workplaces provide an environment where its
employees can earnestly work with hope and pride.
3．Always valuing harmony and courtesy, S.T. strives tobe the best company as regards winning the absolute
trust of our customers, other concerned people andsociety at large.

Corporate Slogan“Refreshing the Air”
We want to refresh the air in your home and your life.
We want to refresh the air in your store and your office.
We want to refresh the air all over Japan.
As a first step, we’re refreshing the air around us.

With a refreshing approach to research and products.
A refreshing attitude in our marketing and sales.
And refreshingly new concepts in our advertising andpublicity.
We’re always offering our customers new proposals.
Proposals that help by refreshing the air.

Origin of the Company’s Name
≪Derivation of the Company Name≫
The “ST” of S.T. Corporation derives from a formulation of the first tenet of our management philosophy: our missionof giving our Service to society and earning society’s Trust, and of creating Super Top products.

≪The Baby Chick Logo≫
Familiar to and enjoyed by many of our customers, our baby chick corporate logo symbolizes S.T. Corporation.
The logo reflects our corporate stance of being healthy, refreshing, sincere, modest and always happily facing up to thenext challenge.

≪Innovative and Creative Products≫
In 2006 S.T. took the opportunity of the 60th anniversary of its founding to adopt the new corporate slogan of“Refreshing the Air.” This slogan encapsulates our vision of refreshing the air throughout the world by providing
innovative and creative products through all our business activities.

Copyright © S.T. Corporation. All rights reserved.

25

Primary Measures
Material Issues

Theme

KPI

Results in FY 3/2024

Goals for FY 3/2025

・Strengthening product development using Clear Forest, our unique air-carecore technology that is natural and has functional properties
・Strengthening development of business models and ecosystems through newmodels・To enrich the lineup of products of“S.T. Pet”

・To release "Nyantomo," a brand of
products for cat litter boxes

Environment

Adapting to a decarbonized society

・Climate change

・Reduction of total CO2 emissions

・Scopes 1 and 2： 1,506 t-CO2

・Scopes 1 and 2： 1,007 t-CO2
・To obtain a third-party guarantee

Coping with the depletion of resources
and adapting to the circular economy

・Resources recycling

・Reduction of total waste amount・1,556ｔ・Disclosure of plastic amount.

Dealing with business risks related tohuman rights

・Human rights

・Formulation of policies and management
systems

・In-house education and awarenessbuilding

・In-house education and awarenessbuilding

・Occupational health andsafety・Reduction of long working hours

・Total actual working hours perperson per year: 1,690-h level

・Total actual working hours perperson per year: 1,700-h level

・Work-life balance

・Promotion of development of a comfortableworking environment for each stage in life

・Ratio of employees who have taken
annual paid leave:73%

・Ratio of employees who have taken
annual paid leave:75%

・Diversity and inclusion

・Enhancement of promotion of developmentof systems and working environments inwhich women can flourish

・Ratio of female managers: 17.7%

・Ratio of female managers: 20.0%

・Human resources
development and skill
development

・Enhancement of production of personnel
who can create and execute new businesses

・To continue next-generationtransformation programs

・To continue next-generationtransformation programs

Strengthening ESG risk managementin the supply chain

・Responsible procurement

・Formulation of policies and management
systems・Improved the management guidelines
for CSR surveys.

・To conduct CSR surveys targeted atmajor business partners.

Responding to social demand beyondlaws and regulations

・Stakeholder engagement

・Dialogue with intellectuals
・To enrich integrated reports

・Dialogue with intellectuals
・To enrich integrated reports

SocietyBusiness

Responding to changes in consumer
valuesand lifestyles

Building a working environment where
diverse employees can work withsatisfaction and peace of mind

Management

・Development of systems in which the voiceof stakeholders can be reflected in ourbusiness administration
Copyright © S.T. Corporation. All rights reserved.

26

Company Information
Contents
１

Company Outline ・・・・・・・・・・・・・・・・・・２８

２Location（Business Offices and Group Companies）・・２９

３

History（Foundation to 2000） ・・・・・・・・・・・３０

４History（2001 to 2010） ・・・・・・・・・・・・・・３１

５History（2011 to the Present）・・・・・・・・・・・３２

Copyright © S.T. Corporation. All rights reserved.

27

Company Outline（As of April 1, 2023）

Company Name：

S.T. CORPORATION

Headquarters：

4-10, Shimo-ochiai 1-chome, Shinjuku-ku, Tokyo 1618540, Japan TEL.03（3367）6111（As of November 1, 2023）

AffiliatedCompanies：

Establishment：

August 1948

Fiscal Year-end：

March 31

Common Stock：¥7,065,500,000

Employees：

Consolidated: 827 / Non-consolidated: 438（excluding part-time and temporary employees）

Listed Stock Exchange：

Tokyo Stock Exchange, PRIME

Consolidated Subsidiaries：

・S.T. PRO Co., Ltd.
・S.T. Business Support Co., Ltd.

・S.T.MYCOAL CO.,LTD
・S.T. （Thailand） Co., Ltd.
・Family Glove Co., Ltd.（Taiwan）
・S.T. Korea Corporation （South Korea）
・Shaldan （Thailand） Co., Ltd.
Non-Consolidated Subsidiary Companies Not Accounted for by the
Equity Method：・Japan Aroma Laboratory Co., Ltd.
・CODE Meee Inc.
Affiliated Companies Accounted for by the Equity Method：
・Aekyung S.T. Co., Ltd. （South Korea）
・NS FaFa Japan Co., Ltd.
Other Affiliated Company：

Headquarters（STR CENTER）

・Shaldan Co., Ltd.
Copyright © S.T. Corporation. All rights reserved.

28

Location (Business offices and group companies)

④

❽❿
❻❾

⑤
⑩⑬⑭

⑪

⑨
⑧

⑦

❸
①②③⑥⑫❶❷❹❺

Business Offices① Headquarters （STR CENTER）

Affiliated Companies (Japan)② R&D Center【Operating Bases】

Affiliated Companies (Asia)⑧ Kinki Branch❶ S.T. PRO Co., Ltd.

【Research Bases】⑨ Chugoku-Shikoku Branch⑩ Kyushu Branch❻ S.T.(Thailand)Co., Ltd.

❷ S.T. Business Support Co., Ltd.

❼ Family Glove Co., Ltd.(Taiwan)❸ S.T.MYCOAL CO.,LTD❽ S.T. Korea Corporation(South Korea)❹ Japan Aroma Laboratory Co., Ltd.

❾ Shaldan(Thailand)Co., Ltd.

❺ CODE Meee Inc.

❿ Aekyung S.T. Co., Ltd.(South Korea)【Manufacturing Bases】③ Chained Retailer Sales Section 1 & 2⑪ Fukushima Plant④ Hokkaido Sales Office⑫ Saitama Plant⑤ North Japan Branch⑬ Kyushu Plant⑥ Tokyo Metropolitan Branch⑭ Kyushu Plant, Kokura Office⑦ Chubu Branch❼

Copyright © S.T. Corporation. All rights reserved.

29

History (Foundation to 2000)
Company Milestones

Air Fresheners and Deodorizers

1946 S.T. Chemical Plant founded1948 Establishes S.T. Chemical Industries Co., Ltd.

Mothproofing Agents

Dehumidifiers

Gloves ・ Warmers ・ Others

1946 Commences the production of
mothproofing agents
Suishounou at the Time ofFoundation
1960 Launches household gloves Jaband Family

1964 Establishes Saitama Plant in Honjo City, Saitama
Prefecture

1974 Establishes Iwaki Plant in Iwaki City, Fukushima Prefecture1971 Launches Air Fresheners
Air Shaldan and Shaldan Ace
1978 Launches Air Fresheners
Shaldan Liquid

1976 Launches mothproofing agent
NEOPARA Corner1977 Launches mothproofing agent
NEOPASS
1979 Launches mothproofing agent
NEOPARA ACE

1981 Launches dehumidifier DRYPET

1982 Changes company name to S.T. Chemical Co., Ltd1983 Launches Air Fresheners
My Shaldan and Shaldan Stained

1984 Public offering of shares for OTC trade with the Japan
Securities Dealers Association
1986 Shares listed on Second Section of Tokyo Stock Exchange
1988 Establishes joint venture Family Glove Co., Ltd. （Thailand）
Establishes joint venture Family Glove Co., Ltd. （Taiwan）
Establishes joint-venture company Shaldan （Thailand） Co., Ltd.
Establishes Moji （Kyushu） Plant in Kita-Kyushu City, Fukuoka
Prefecture

1991 Shares designated for First Section of Tokyo Stock
Exchange
1993 Establishes Shaldan （Philippines）, Inc.
1995 Establishes Japan Corporation Co., Ltd.
1998 Launches the “lean yet robust company” as well as“selection and focus” initiatives （Takashi Suzuki, president）
1999 Relocates Osaka Branch to Suita City, Osaka
2000 Splits off S.T. Trading Co., Ltd.

1988 Launches mothproofing
agent MUSHUDA

1984 Launches dehumidifier DRYPET
for wardrobes

1988 Launches the dehumidifier
DRYPET SKIT

1994 Launches the mothproofing agent
MUSHUDA COVER

1994 Launches the cleaner UltraPowers Washing Tub Cleaner

1997 Launches mothproofing
agent MUSHUDA FOR CLOSET
1999 Launches Air Fresheners
Shoshu-Pot
2000 Launches Air Fresheners
SHOSHURIKI and
deodorizer
DASHUTAN CHARCOAL

2000 Launches the mothproofing agent
MUSHUDA FOR 1 YEAR

Copyright © S.T. Corporation. All rights reserved.

30

History (2001 to 2010)
Company Milestones

Air Fresheners and Deodorizers

2001 Establishes S.T. R&D Center
2002 Consolidates 3 plants and 5 basesin Japan to 3 bases
2003 Splits off S.T. Auto Co., Ltd.
Forms sales and office-work tie-up with Mycoal Co., Ltd.
2004 Commences Refreshing the Air Project
Establishes Japan Aroma Laboratory Co., Ltd.
Forms sales and office-work tie-up with Sumitomo 3M Limited
Adopts Company With Committees system
Establishes 3M S.T.Hanbai Co., Ltd.
2005 Manufactures and sells deodorants and air fresheners
at ＰT. FUMAKILLA INDONESIA
Establishes S.T. Business Support Co., Ltd.
2006 Commences sales at U.S.-based Walmartstores（Dehumidifiers ・ Air Fresheners）
2007 Forms office-work tie-up
with Aekyung Industrial Co., Ltd.
and ITOCHU Korea Ltd. in South Korea
Establishes Aekyung S.T. Co., Ltd.
Establishes S.T. Korea Corporation
Reforms corporate organization after establishing new businessframework（Kaonzo Kobayashi, president）
Changes corporate name to S.T. Corporation2009 Launches the “design revolution” as well as “workplacereform ” initiatives （Takashi Suzuki, president）

2001 Launches plug-type electronic Air
Fresheners Shoshu-Plug2010 Launches the “fragrance revolution”
and “S.T. Reformation”
Entering into an Alliancewith FUMAKILLA LIMITED
Terminates sales and business alliancewith Sumitomo 3M Limited

Mothproofing Agents

Dehumidifiers

Gloves ・ Warmers ・ Others

2002 Launches the dehumidifier
DRYPET COMPACT
2003 Launches the mothproofing agent
SHOSHURIKI FOR GARBAGE

2004 Launches the dehumidifier
BINCHOTAN CHARCOAL DRYPET
2005 Launches “Washing the Air”
Air-Wash Mist spray2006 Launches plug-type
electronic Air Fresheners
Shoshu-Plug Illuminated2005 Launches the dehumidifier
BINCHOTAN CHARCOAL DRYPETFOR SHOES
2007 Launches the mothproofing agent
MUSHUDA FOR 1 YEAR FOR WALK-IN
CLOSET
2006 Launches the dehumidifier
BINCHOTAN CHARCOAL DRYPET
Futon Kaiteki Sheet2008 Launches electronic
Air Air
Air Fresheners
SHOSHURIKI AUTOMATIC SHUPATTO

2009 Complete design renewal of
SHOSHURIKI AUTOMATIC SHUPATTO
and SHOSHURIKI PLUG under the
Design Revolution

2003 Launches the insect repellent forrice bins KOMETOBAN
and Air Activated Warmer ONPAX

2010 Launches the mothproofing agent
MUSHUDA FOR 1 YEAR FOR FLORAL

2010 Launches the stick-type air
freshener My Aroma Stickand the deodorizer
SHOSHURIKI FOR GARBAGE

Copyright © S.T. Corporation. All rights reserved.

2010 Launches the dehumidifier
BINCHOTAN CHARCOAL DRYPETFOR BOOTS

2007 Launches the cleaner
Powers Baking Soda Scrubber
2008 Launches the dish-washingdetergent FRESH-UP

2010 Launches theion generator Virus Attacker
and the shoe cleaner
SUNSHINE POWER SHOE CLEANER

31

沿革（２０１１年～）
Company Milestones
2011 Commences
the Clear Forest business

Air Fresheners and Deodorizers

Mothproofing Agents

Dehumidifiers

2011 Launches the insect repellant Air
Fresheners SHOSHURIKI FOR GARBAGE
WITH FLY REPELLENT

2011 Launches the futon spray
Ohisama no Shoshu, an automaticelectrically powered insect repeller,
and the household radiation
detector Air Counter
2012 Launches thehousehold radiation detector
Air Counter S
Aroma humidifier Moistpet

2014 Launches Air Fresheners
SHOSHURIKI CLIP LIQUID TYPE FOR
CAR

2013 Clear Forest Car

2012 Concludes a three-company
capital and business alliancewith NS FaFa Japan Co., Ltd.
2013 Completion of the Company’s
headquarters （STR CENTER）
2014 Changes company nameform Family Glove Co.,Ltd.(Thailand)
to S.T.(Thailand)Co.,Ltd.
Conducts an absorption type merger
of S.T.Auto Co.,Ltd.
2015 Conducts an absorption type mergerof Japan Corporation Co., Ltd.

Gloves ・ Warmers ・ Others2015 Launches Air Fresheners SHALDAN
and SHOSHURIKI PREMIUM AROMAFOR ROOM

2016 DRYPET DRY KEEPER

2016 Launches Air Fresheners
SHOSHURIKI kinou-Plus

2018 Establishes S.T. MYCOAL Co., Ltd.
2019 Acquired ZETA S.R.L. (Italy)
2020 Changes company name form S.T. Trading Co., Ltd. to S.T.
PRO Co., Ltd.

2017 Launches deodorizer
Dashu-Tan—Smell removing paperand Launches Air Fresheners
SHOSHURIKI ION DEODORANT PLUS

2020 Launches Air Fresheners
SHOSHURIKI DEOX

2018 MUSHUDA BOTANICAL
2019 MUSHUDA PREMIUM AROMA

2023 Acquired CODE Meee Inc.

2018 Pollen measures
MORILABO POLLEN BARRIER
And Air Activated Warmer
ONSTYLE ABDOMEN WARMER

2020 MUSHUDA MITE REPELLENT

2021 Sold ZETA S.R.L. (Italy)
2022 Sold Shaldan（Philippines）,Inc.
2023 Launches Air Fresheners
SHOSHURIKI PREMIUMAROMAFOR SLEEP

2018 DRYPET CLEAR CLEAR

2022 Pet Product
S.T.PET
2024 MUSHUDA NOTE

Copyright © S.T. Corporation. All rights reserved.

32