Customers are changing. They are evolving at this very moment. And they are changing fast. That is why we must always be customer-centric. Recently, a global tour company Thomas Cook collapsed after 178 years in business. It was the giant that turned travel into the huge industry it is today. What went wrong at Thomas Cook when the travel industry continues to thrive all across the world and the number of travelers is increasing? The short answer is that it failed to keep up with changes in customers and paradigm shifts. Rather, they clung to old ways that led to their success in the past. They, People, no longer go to an offline travel agency. They'd rather set their own travel program using Expedia or Ctrip than buy travel packages. The same story is with big hotel chains. People prefer Airbnb or Uber for more convenient travel. Indeed, the way people travel has changed. People do not remain the same. That's why we must not forget that customers are moving targets. They keep changing and moving.

 There are a few things that I'd like to highlight, to ensure that customer-centricity is woven throughout the very fiber of our being. First, we must change. Change yourself first, the way you think and work. Only then can we keep up with customers, our moving target. Although the old way works well, we must not cling to it. Otherwise, we will be unable to move forward toward customer-centricity. Customers certainly would not want to see us resting on our laurels. Even an old-established industry leader can collapse as witnessed by travel giant Thomas Cook.

 Second, speed is key. I have heard that cosmetics companies partnered with Chinese Tmall have to launch new products within at least six months as Tmall requires. It is not easy in the conventional way, but it is really happening and it needs to happen. For that, we must change the way we think. From line to network, from line to platform, we must broaden our horizon. Suppose that we have to move from point A to point C. With a linear approach, we have to go through point B but when we broaden our view and extend line into network, and into platform, there can be other ways to move from A to C without passing through B. In China, credit cards are now going obsolete and rarely used, so is cash. It is difficult to find a shop that gives change even though you pay in cash. Mobile payment platforms such as Alipay and WeChat Pay are taking control of China. In other words, China did not pass through point B, which is credit cards, but went directly from A to C. It shows why it is important to expand our horizon in order to accelerate our change.

 The notion of "Less is More" is also important in this context. Find and do away with things that are unnecessary. That being said, we must enhance everything related to customer data and quality, not cutting them down. Big data is required in order to save time. Data-driven decision making is key to business in this information age. In the past, we had to work slowly to get things done accurately, but now we can work quickly with improved accuracy. And this is where the importance of data comes into the picture; the more data we have, the greater accuracy we can achieve. This, in its turn, brings things into sharper focus, thus speeding up how we go about business. Everything is happening in different ways than in the past. Let us change the way we think and take different approaches as needed to speed things up.

 The third is the power of fandom. Fandom is built mostly through social media platforms such as Instagram, YouTube and WeChat. And when used properly, these platforms can help expand the fandom for organic and smooth running of communication & commerce (C&C). Keep your eyes on KCL (Key Customer Leader) beyond KOL (Key Opinion Leader). Unlike in the past, we can manage a much bigger number of customers using big data. It is the fruition of the 4th Industrial Revolution. and we must use it wisely. Communicate with a greater number of people having greater influence at a greater pace and by doing so, we will be able to boost commerce.

 Fourth, I want to underscore the importance of omni-channel. Things have changed and even Wal-Mart, the top retail channel, is knee-deep in trouble. It had thousands of stores but recently closed hundreds of them. Retailers are going downhill. But what is notable is that Wal-Mart brought change to its business and across remaining stores. It went online and laid the groundwork for a robust site-to-store operation. As a result, Wal-Mart is now seeing increased sales in its brick-and-mortar stores, which continue to grow in tandem with e-commerce. One of the main reasons is that it was able to expand its market share as its competitors, 2nd, 3rd and 4th largest retailers went out of business and created new demand in the online channel. In the past, the name of the game was Wal-Mart competing against other big retail chains; now it is all about a power game between Wal-Mart and Amazon. Things that we could not have imagined are happening today. One of my favorite magazines since my school days is Forbes, and it was established almost 100 years ago. That means it has a long-established tradition and reputation. A while ago, I met an associate of Forbes and heard that it has changed its business structure by going 90% online and 10% offline. It is creating new advertising and sales strategy in line with market trends.

 We must also go with the tide and change our door-to-door sales system and ARITAUM accordingly. 'Last mile' means the final contact point with the customer, and I believe that we will be able to create new opportunities when we wisely use this step, as well as the 'last fit' step. Fitting is essential when buying clothes or shoes. So, let's keep our eyes fixed to customers till the final stage of the customer journey. That's where we can usher in a whole new customer experience.

 While offline retailers are struggling, there are two German supermarkets, Aldi and Lidl, putting up a good show with double-digit growth. With low-price strategy, they are growing fast in the U.S. and across Europe. Many conglomerates are now benchmarking their efficient business model. Aldi and Lidl deal in only about 1,500 items whereas a global retailing powerhouse Tesco deals in nearly 50,000 different items. Their stores are also small, about 1/10 of large retailers' stores, averaging 6,611m2. Another difference is the total number of products. They put out only 1-2 types of products. For instance, two types of ketchup and two types of diapers are put on the shelves. And because they stock only a small number of items, they can keep the price of products low. In the past, retailers purposefully designed a convoluted layout almost like a maze to keep customers idling longer in the store. But Aldi and Lidl are the complete opposite. One thing that people today value most is time. They saw through it and changed their approach. They set a simple, easy-to-shop layout with a small manageable selection of items to help their customers save their time and it resulted in solid growth. Customers must not trail around after us. It is us that should follow customers, our moving target. Let's do a proper re-think about our service from the ground up, using a customer-centric approach.

 And fifth, l want to build a great place to work. Employees can be truly customer-centric when they are working in a positive and healthy work environment. Effective and clear communication is key, not top-down style. A few days ago, I had a nice talk with young members about get-togethers after work and I learned that they want this as well. Too much of it could be a problem. But it does not mean there should be no get-togethers after work. Just because they do not like the way of having get-togethers does not mean they do not like its nature. Of course, there are people who prefer spending time alone but I think, most people like to gather around, have fun together and feel a sense of camaraderie. Business is not something that one person can do alone. That's why teamwork is essential for the success of all businesses. Together we should build a culture of teamwork where each of our members can develop and improve their competencies; an organization where individual members meet every challenge with passion, confidence and positive attitude, and grow together.

 Hope comes out from behind dark clouds. It is a phrase quoted from a poem I'd like to share with you. Dark clouds may drift overhead but the water of life will fall down to the ground and new hope will spring up. The same goes for business. There is an opportunity in every crisis, a chance for growth. Our vision of the future will provide guidance today. Envision a great future, how your future can change and you will be able to live life to the fullest. Keep in mind that change means opportunity. I'd like all of you to push your boundaries and work toward creating the value of new beauty. In this course of creating new beauty that no one else can easily think of, I am sure you will be able to have a great deal of fun and improve yourself. And this new beauty will most definitely make our customers happy. So let's do it together.

 Lastly, I wish to give my full support to OSULLOC starting out as an independent corporation today. With the same mindset and attitude we had when we cleared wasteland to spawn a tea garden 40 years ago, we will build our unique and beautiful tea culture while others drink coffee and cling to that culture. We will continue our effort to enrich the lives of those who enjoy tea. Thank you.