In July 2003, our Group restructured to become a stock holding company. Under the name "Oenon Group", we have been working to develop our alcoholic beverages, enzymes and pharmaceuticals and other businesses based on fermentation technologies fostered over many years under our corporate philosophy: "From the bounty of nature and with biotechnology as our base, we aim to help people find enjoyment and health through food".

Oenon Holdings conducts business by utilizing a specialized group-wide internal auditing and strategy development functions such as quality control and procurement management as well as operational planning, advertising, IR and other corporate communications, in order to build a "value chain" for Group companies. To ensure the development of technologies and products that enhance our "future value", we have established a research laboratory, Alcohol Research & Institute and we have concentrated the Group's know-how and strengthen our basic research. This framework has enabled us to formulate integrated policies and strategies for the appropriate allocation of resources, promote the Group's core operations using a wider perspective, concentrate our strengths and enhance the corporate value of the Group.

While constantly providing safety and security from the customer's perspective, we will continue doing our utmost as a good corporate citizen to meet your expectations. We ask for your support and encouragement both now and into the future.

Yukio Nagai, President & CEO

Oenon Holdings, Inc.