(1) Current Status Analysis and Evaluation Under our medium-term management plan that commenced in FY2023 (March 2023) - "2026 Diversify into Nutrition & Health," we are pursuing our group-wide growth strategy "transformation of group business model" and "reallocation of management resources" as fundamental policies, advancing: ① strengthening of domestic sugar operations, ② expansion of overseas operations, ③ growth of life and energy operations, ④ accumulation and enhancement of group research and development capabilities, and ⑤ contribution to the realization of a sustainable society. As a result, ROE for FY2025 (March 2025) was 5.6%, falling short of the quantitative target in our medium-term management plan (ROE of 7% or higher). The average ROE for the most recent five periods (FY2021 through FY2025) was 5.5%, but this exceeds our assumed cost of equity capital (3.3%-4.9%). Additionally, ROIC (return on invested capital) for FY2025 was 7.4%, exceeding our assumed WACC (weighted average cost of capital), but the average ROIC for the most recent five periods was 3.0%, falling short. Regarding PBR, while PBR has improved to near 1.0x in the current period (FY2025), it has consistently remained below 1.0x over the most recent five periods. We recognize that this is due not only to room for improvement in capital efficiency but also to insufficient understanding and evaluation by shareholders and investors regarding the feasibility of our growth strategy. (2) Policy for Improvement Toward the realization of management aware of capital costs and stock prices, in our business operations we aim to maintain ROE of 7% or higher by achieving the targets in our medium-term management plan 2026, consistently realizing capital profitability exceeding our cost of capital. We will also promote communication with shareholders and investors to ensure that our business plans and growth potential receive sufficient understanding and evaluation. (3) Initiatives for Improvement ① Promotion of Growth Strategy ・Achievement of quantitative targets in medium-term management plan 2026: Consolidated net sales ¥200 billion, operating profit + equity method income ¥12.5 billion, EBITDA ¥17.5 billion ROE of 7% or higher ・Promotion of business portfolio management: Through use of business-by-business ROIC and other measures, we will promote internal adoption of balance sheet and cash flow management, practice capital efficiency management led by the field, and aim to achieve company-wide ROIC that consistently exceeds WACC (weighted average cost of capital). ② Engagement with Shareholders and Investors ・Establishment of SR (Stakeholder Relations) division and clarification of reporting lines: We have established a division under the Corporate Planning Division. Reporting to the CFO, we have consolidated and unified the process from internal and external stakeholder disclosure, including financial and non-financial information (already implemented). ・Enhancement of Information Disclosure: While creating new opportunities for dialogue such as investor briefings for individual investors and sustainability presentations, we will enhance information disclosure through expanded website content and enhanced English-language disclosure.