We interviewed three outside directors on topics ranging from Board of Directors’ diversity and agenda items to progress and issues related to Medium-term Management Plan JCU VISION 2035 —1^st stage—, and outside director contributions to the enhancement of corporate value.

Participants: Mayumi Yamamoto, Masayuki Itagaki and Harusato Nihei

Issues going forward include the appointment of internal female and foreign national directors to the Board

To begin, please share your opinions on the Board of Directors’ diversity and agenda items.

Yamamoto　While I recognize that JCU’s Board of Directors engages in vigorous discussions from multiple perspectives, I think the lack of female internal directors is an issue. Regarding agenda items, I believe there would be greater scope for fulfilling my role as an outside director if the major strategic direction envisioned by the executive team for the Company were to be incorporated more directly into the agenda.

Nihei　The Board of Directors’ deliberations are conducted thoroughly and appropriately. However, I share Ms. Yamamoto’s view that the proportion of female internal directors and the appointment of foreign nationals are issues requiring attention. We should take the time to discuss these matters repeatedly and work toward improvement.

Itagaki　Overall, I consider the balance of internal directors and the diversity of external directors to be adequately ensured. Ideally, the addition of Board members with vast expertise in surface treatment technologies—one of our core competitive strengths—will further strengthen the alignment between technology and management strategies, which I expect will enhance the quality of decision-making.

The medium-term management plan is proceeding on track, and expectations are high for the Kumamoto Facility, which is scheduled to commence operations in FY2026

How is Medium-term Management Plan JCU VISION 2035 —1^st stage— progressing?

Itagaki　From a technical perspective, I think we are making steady progress. We have developed the core technologies of copper sulfate plating chemicals and etching chemicals for PCBs into surface treatment technologies for next-generation semiconductors, and have begun rolling out the TIPHARES® series. The commencement of operations at the Kumamoto Facility in FY2026 will accelerate the development of surface treatment chemicals required in semiconductor manufacturing processes.

Nihei　I feel the same. Business performance is generally on track. It is extremely important to secure our position in the semiconductor package substrate and advanced semiconductor packaging fields, as set forth under the medium-term management plan, and we are steadily implementing measures such as establishing new factories at the Kumamoto Facility and overseas subsidiaries, and making focused investments in research and development. Although we expect to exceed projections for the total amount of investment during the medium-term management plan period, I will leverage my perspective as an outside director to engage in discussions and ensure appropriate decision-making with regard to required investments.

Yamamoto　It is essential we further accelerate research and development to realize JCU VISION 2035. I expect the establishment of a dual-location structure comprising the Kumamoto Facility and R&D Center will accelerate the pace and deepen the scope of technological developments, propelling the Company toward sustainable growth.

Issues surrounding human resource retention and utilization

What issues affect medium-term management plan achievement?

Nihei　To respond to changing market demands in the electronics sector, we must steadily implement measures that include optimizing human resource utilization through labor-saving efforts driven by DX, accelerating workforce training, retaining highly skilled personnel, and conducting joint research with academic institutions.

Yamamoto　 I consider enhancing human capital to be our most pressing issue. We will further discussions to identify optimal solutions for retaining and utilizing talent, which in turn will lead to sustainable growth.

What are your expectations for JCU?

Itagaki　As surface treatment technologies spread throughout the world, I expect more people will be able to utilize AI and communication technologies facilitated by advanced semiconductor packaging. This will contribute to building resilient infrastructure, promoting inclusive and sustainable industrialization, and fostering innovation, as well as reducing inequalities within and among countries, as targeted by the SDGs.

Yamamoto　I hope to see the Company invest proactively in refining its technologies as an R&D-oriented company, while developing the ability to withstand competition.

Nihei　JCU’s products have the potential to establish a significant position in semiconductor back-end processing, and I expect steady progress and accelerated developments toward this end.

Leveraging diverse career histories to contribute to the enhancement of corporate value

How do you hope to contribute to enhancing corporate value?

Nihei　I want to contribute by leveraging my experience and knowledge from involvement in finance, capital markets, and corporate management. Specifically, this entails formulating growth strategies, providing advice regarding financial markets, and maintaining appropriate dialogues with capital markets.

Yamamoto　As a lawyer, I hope to encourage reflection on JCU’s existing corporate culture, its “village logic” so to speak, by offering a candid, outsider’s perspective. If this can contribute to growth, I will be delighted.

Itagaki　Leveraging my academic background, I hope to assist in the creation of new technologies through efforts that include strengthening R&D Center industry-academia collaborations. As globalization progresses, the rate at which engineers and researchers obtain doctoral degrees is increasingly becoming a benchmark for assessing technological capabilities. I want to provide guidance enabling as many employees as possible to obtain doctoral degrees.

Bringing next-generation technologies to society based on stable management and governance systems

In closing, what is your message for shareholders and investors?

Yamamoto　JCU is a very serious and good company. Communication between directors and executive officers is open, and the organization is well-balanced. In terms of governance structure, JCU continuously strives to respond to changes in society and risk factors. I will continue to repeatedly engage in discussions aimed at further improvements and advancements.

Nihei　I believe we can have high expectations for JCU, as it provides shareholder returns and long-term business performance growth under a stable management and governance system. Going forward, I will maintain efforts to provide clear and detailed information disclosure.

Itagaki　Engineers and researchers with talent and dreams are developing next-generation technologies while awaiting the next opportunity. These efforts will surely bear fruit in the near future, so I think there is a lot to look forward to.