Q1. What are Japan Pure Chemical's management principles? Q2. What is Japan Pure Chemical's history? Q3. What is a management buyout? Q4. What is Japan Pure Chemical's business model, and what are the main features of that model? Please refer to the "Management Principles" page on the "Corporate Information"section. Please refer to the "JPC's History" page on the "Corporate Information"section. A management buyout (MBO) means the purchase of a company's shares from its parent company and other shareholders by management so that it becomes the owner of the company. Japan Pure Chemical established JPC Holdings Co., Ltd., a holding company that acquired 95% of Japan Pure Chemical's shares from the previous management team with the intention of making an MBO. In November 1999, JPC Holdings merged with the former Japan Pure Chemical, changed its name to Japan Pure Chemical Co., Ltd., and assumed all operations of the former company. For more information, please refer to the "About JPC" page in the "IR Info" section.