Thank you for visiting the website of Sunsho Pharmaceuticals.
Autumn has arrived, and the cooler weather is beginning to settle in. Fuji and Fujinomiya, where we are based, are wonderful places to enjoy the autumn season. Mount Fuji, even before it gains its snow dusting, has fascinated painters and photographers since ancient times. It is a perfect sight to see in this autumn season of art. This is the season when sake such as Isojiman and Syousetsu pair perfectly with the fresh seafood dishes.
The COVID-19 pandemic has become more manageable, with occasional surges in cases, social activities have resumed, and many tourists from abroad are visiting our country. However, popular tourist destinations are once again experiencing an excessive number of tourists, which has begun to adversely affect the lives of local residents and the natural environment. This is over tourism, and it has led to a decline in the attractiveness of the land. Effective countermeasures are now required to address this issue.
The global economy remains unstable. In addition to the protracted war in Ukraine, the worsening of China's loan problem due to the slump in their real estate market could lead to financial system instability. Additionally, a recession could be triggered if high inflation resumes and the U.S., European, and Central Banks tighten monetary policy further due to tight energy supply and demand against a backdrop of rising climate change and geopolitical risks. On the other hand, the Japanese economy is expected to remain strong, backed by a recovery in inbound consumption and personal consumption that is expected to continue to recover even amid high prices due to the effects of wage hikes and other factors. However, in our mainstay health food business, customer demand trends are unpredictable due to factors such as overreaction to treated water by certain countries and the impact of changes in the system of foods with function claims. This makes it difficult to steer a course.
As per our mission statement, we pledge to "Continue to be the best partner for everyone involved with Sunsho Pharmaceutical" and to contribute to the health of people around the world. The requirement for us to continue to be your best partner is for all of our professionals at Sunsho Pharmaceutical, to personally engage with our business partners and deliver the best products and services to our customers. In responding to the changes in the system of foods with function claims, we have repeatedly consulted with the authorities, internal partners, and external parties. We are well equipped to understand the background of the changes and have acquired deep knowledge to properly report the scientific evidence of functional claims. We are committed to providing our customers with accurate advice and hands-on support for their future product commercialization projects.
We will celebrate our 30th anniversary this November. All of our employees and executives would like to express our sincere gratitude to our business partners for their tremendous support that has enabled us to reach this milestone. We will continue to make further efforts so that the third stage of Sunsho Pharmaceutical will be recognized as the "Best Partner" by all of you.
We look forward to your continued support in the future.
Row Imamura, CEO