The following "New Year Message 2023" was addressed to all officers and employees by President Kenichi Hori.

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Happy New Year, everyone. I would like to extend best wishes to all as we embark on a brand-new year.

Looking back on 2022

Last year was a year of great changes in the business environment surrounding our company, including the global economy and geopolitical risks. I would like to convey my respect and gratitude for all the creative work you have done under such circumstances, as well as for the perseverance and patience that you have demonstrated over the past year in making our businesses stronger worldwide.

We were reminded that, in the face of heightening uncertainties, a business model such as ours, which allows us to be deeply rooted in many industries as a unique player, makes us more apt to come up with novel ideas. Particularly noteworthy and encouraging in this context is that you have shown effective collaboration between business units. I will also add that you have done so with a clear set of cross-accountability – being clear to each other with respect to who needs to do what by when. Such interindustry collaborations have spontaneously grown into new initiatives for business expansion and business cluster formation, and they are spreading across the organization.

Upon entering 2023

The world is now going through an unprecedented transitional period. The question before us today is how we tackle the continuing uncertainty and prepare ourselves for strong headwinds.

I am confident that Mitsui's institutional strength and its business model will help us navigate through this. Because we have strong local businesses and networks in many of our geographical areas, we are better equipped to find solutions to disruptions and shifts that could occur in the global business chains, and to provide tangible value to our customers.

Further, Mitsui is a company that thrives on being a player in multiple business fields. This is a blessing for us, because it allows us to think through a wider range of options and helps us become more innovative. This is especially important when many of our customers wrestle with high uncertainty.

To further leverage this core competency of ours, once again, cross-accountability is indispensable. I would like to reiterate our policy of facilitating flexible formation of result-driven teams beyond organizational boundaries and providing full and institutional support for their success.

These are the things that we will emphasize this year when we develop our new Medium-term Management Plan that starts from April. Our Medium-term Management Plan 2026 will be filled with actionable items from day one. It will become our compass for achieving strong growth and sustainability.

Closing

I wish to emphasize that it is the aspiration in each of our hearts that drives this global institution of Mitsui. This is what each of us sincerely desires to accomplish on this global stage we face through the Mitsui's business network. Let's treasure that and be true to it. Let's also respect our colleagues' aspirations as if they were our own.

Lastly, but most importantly, let's remember that our aspirations go hand in hand with a sense of modesty that always guides us to think through whether we have been true to our customers' needs and whether we have really created value for the betterment of society.

I look forward to seeing you fully express your potential and play a dynamic and creative role in a wide spectrum of fields in 2023. Thank you and I sincerely wish you and your family a wonderful new year.