Tokuyama Corporation (hereinafter referred to as "the Company" or "Tokuyama") hereby announces that it has established Tokuyama Taiwan Marketing & Research Center Co., Ltd. (hereinafter referred to as "TTMRC") by incorporating its Taiwan Research Laboratory as a local subsidiary.

Since its opening in September 2018, the Company's Taiwan Research Laboratory has served as the Group's first overseas research and development base and played a role in the Group's globalization endeavors. Among a host of activities, the Laboratory has engaged in joint research with Taiwan's Industrial Technology Research Institute.

In conjunction with the incorporation of the Taiwan Research Laboratory as a local subsidiary, Tokuyama will also integrate the R&D and marketing functions thereby bolstering the Group's capabilities by establishing a new marketing department that will be taken on the processing role of launching new businesses.

Under its Medium-Term Management Plan 2025, the Tokuyama Group will work to transform its business portfolio with a focus on the growth areas of electronics, healthcare, and the environment. Every effort will be made to promote the creation of new value in growth areas with a sense of speed by maximizing the functions of TTMRC.