CEO Message

Dear Shareholders,

We remain steadfast in our mission: A World without Blindness. The year 2024 was a pivotal period for the Kubota Pharmaceutical Holdings Group, as we laid a solid foundation for our next phase of growth. Over the past year, we have made steady progress in our core projects and took significant steps toward realizing our long-term vision. We are pleased to share our key accomplishments from 2024 and our outlook for 2025 in this message.

Kubota Glass: Preparing for Full-Scale Entry into the Chinese Market

Kubota Glass is an AR device designed to replicate the beneficial effects of outdoor light but used indoors, aiming to help manage the progression of myopia. Throughout 2024, we focused on building the foundation for its market expansion. In particular, we prepared carefully for a full-scale entry into China--a country that has made myopia control a national priority--through comprehensive market research and stepwise development of its distribution infrastructure. In 2025, we will officially launch Kubota Glass in the Chinese market, further strengthening our sales and marketing capabilities. As global rates of myopia continue to rise, we are confident that Kubota Glass will improve the quality of life for many individuals. Through this innovative product, we aim to protect vision and support a brighter future for people worldwide.

eyeMO: Demonstrating Potential Through Clinical Trials

eyeMO is a compact, mobile OCT (optical coherence tomography) device currently undergoing clinical trials in Japan, Singapore, and Boston, USA. These studies continue to confirm its practical utility and promising potential. eyeMO is designed for use in home and remote healthcare settings, enabling patients with conditions such as age-related macular degeneration and diabetic retinopathy to measure their retinal status at home, with physicians monitoring remotely. As we refine the ideal practical model, we are also exploring co-development opportunities with partner companies and paths to commercialization. Our goal is to bring this device directly to patients and contribute to the early detection and treatment of retinal diseases.

Emixustat Hydrochloride: Steady Progress Toward Regulatory Approval

Throughout 2024, we were reminded of the growing anticipation for emixustat from both patients and healthcare professionals. Emixustat is now in its final stages of development, with efficacy and safety data continuing to support its potential as a new treatment for rare retinal disorders. We have strengthened our efforts toward regulatory approval by working closely with these authorities, enhancing data submissions, and taking the necessary steps to meet their requirements. In parallel, we are actively building partnerships for sales and distribution. In 2025, we will accelerate these efforts with the aim of securing approval and delivering emixustat to patients as quickly as possible.

Looking Ahead

Each of our core projects made meaningful progress in 2024. In 2025, we look forward to turning that momentum into tangible outcomes. With innovation and passion at the heart of our business, we are committed to enhancing eye health and improving the quality of life for people worldwide. At the same time, we aim to increase corporate value and provide long-term returns to our shareholders and investors. We sincerely appreciate your continued understanding and support as we advance our mission.

Sincerely,

Ryo Kubota, MD, PhD
Chairman, President, and Chief Executive Officer (CEO)
Kubota Pharmaceutical Holdings Co., Ltd.
March 2025