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President's Message

With high aspirations under the motto
"Let Us Sow the Seeds of Joy,"
we move forward to meet the expectations of
society and our customers,
believing that maintaining the status quo
is a step backwards.

Teruji Yamamura President & CEO Duskin Co., Ltd.

Duskin's Value Creation

As we operate through a network of franchised businesses, our main source of revenue comes from franchise systems. Our franchisees and the headquarters share in each other's fortune and future. The franchise headquarters' existence is determined entirely by the franchisees. Our relationship is like the two wheels of a cart.

To get our franchise network through this unprecedented crisis, ensuring the health and safety of employees including part-time and temporary workers and keeping them in employment is of the utmost importance. As part of our franchise support, we have provided COVID-19 relief money to franchisees and their employees.

For shareholders, we will maintain stable cash dividends for each term with the aim of a consolidated payout ratio of 50%.

Since Duskin's founding, we have positioned the philosophy of Economy and Morals in Unity at the core of management. Morals prompt compassion and kindness to people and a heart for appreciation. Even in changing times, the attitude we present to society should remain constant. Economy, on the other hand, represents our financial pursuits for business growth as a company. Products, services, and business model should change with the times. We have been pursuing Unity of "what must be kept unchanged" and "what must be changed" since the time of our founding.

Founder Seiichi Suzuki debuted Home Duskin, a rental dust cloth that removes dust without water to help reduce the burden of wet cleaning. From that time on, we have developed businesses that fit the needs of the times under the slogan "Let Us Sow the Seeds of Joy." We aim to be of help to society to enhance our customers' lives with our products and services.

Duskin's greatest strengths are: providing solutions with our value-added products and services; many items actively marketed through our face-to-face interaction; and providing excellent customer experience with time for relaxation in the pleasant ambience at our shops and restaurants. These are supported by all our franchisees and our corporate employees who embrace our management philosophy and form the Duskin franchise network with shared goals and vision for the future. This is the bond that unites us and distinguishes us from all others. As team members of the Duskin franchise network, we are committed to creating new value, and reflecting the voice of customers. This is our CSV management.

Corporate Governance

Since June 2020, two of our three Outside Directors have been women. We have ensured diversification on the Board of Directors by appointing women to three of the six outside director positions, including one woman who is an outside Audit & Supervisory Board Member.

In April 2020, a career Duskin woman was appointed as an operating officer. We will see more appointments of women in the future to better represent our customers and organization. Most of our customers for residential products and services are women. The managers at our franchise offices are mostly women. Most of the customers who frequent Mister Donut, and the staff members who work there, are women.

Under the Operating Officer System started in April 2018, the supervisory function was separated from business execution function. As a result, the oversight function has been strengthened. Along with the succession plan launched in FY2019, a development program for the next-generation executive candidates was also initiated. The program is designed to evaluate candidates from different perspectives. The candidates are assigned to different projects. They will be assessed according to their skills and leadership in different business areas. Good division managers may not always be suitable as operating officers or as directors. It is important to make sure that the evaluation is not made solely at the CEO's discretion but from the perspectives of management philosophy and along with evaluations by their subordinates'. A new assessment system is in place to make 360-degree evaluations — from subordinates, co-workers and superiors. We visit workplaces where the managers have received a low evaluation from their subordinates to gather first-hand information.

For the nomination of directors in the past three years, we selected the candidates for each of the following fiscal years based on the opinions of the Director Evaluation Committee, which is composed of outside directors. As outside directors have given us critical advice, the transparency of the process is increasing.

My Vision

My interpretation of "Maintaining the status quo is a step backwards." is to keep my aspirations and motivation high. It takes an endless effort to move forward.

During the journey, you may make a mistake or experience a failure. To our employees, I say, "there is no such thing as a failure." Employees haven't failed. They’ve just found many ways that won’t work. In a way, each realization was a success because they have moved forward to explore new opportunities, which ultimately leads to a success.

Duskin's rental of cleaning and sanitation-related products, professional cleaning and helper services, and Mister Donut are the three successful Duskin brands that resonate with customers. Underlying the success are the failures over approximately 100 new businesses. I would say our score is "three wins and ninety-seven losses," but I am convinced that the losses have led to the development of our employees.

Our annual motto for fiscal 2020 is "Delivering on our commitments to customers, proactive in every action and transaction, we Sow the Seeds of Joy." While committed to our customers and society, Duskin will act in a positive manner to meet their expectations.

In deepest appreciation of your continued support for this year and those to come, we look forward to our future together.

Teruji Yamamura
President & CEO
Teruji Yamamura