The world is changing on a scale never seen before. Global trends such as population growth and urbanization have been transforming social structures, while giving rise to environmental and various other issues. Also, technological innovations, including the Internet of Things (IoT) and Artificial Intelligence (AI), are changing human behavior.
The Sumitomo Corporation Group aims to be a global organization that constantly stays a step ahead in dealing with change, creates new value, and contributes broadly to society. Sumitomo's Business Philosophy, which has been passed down throughout its history to this day, pronounces that Sumitomo's business, while benefiting Sumitomo, must also benefit the nation and society. Our mission is to grow together with society stably and continuously over the next 50 years, 100 years, and on without end, while addressing the challenges that our generation faces today.
Sumitomo Corporation will mark its centennial year in 2019. Upon approaching this significant milestone, we have upheld the medium- to long-term vision, "What We Aim to Be in 2019, Our Centennial Year". This is the final fiscal year in our three-year mid-term management plan, BBBO2017 (Be the Best, Be the One 2017), which outlines the path toward the vision. Over the past two years we have successfully carried out managerial reforms and growth strategies, and I am confident that these efforts have established a more solid earnings base. Making group-wide efforts to fully implement BBBO2017, we will accomplish a return to a growth path and proceed toward becoming What We Aim to Be and beyond.
I look forward to your continued support and patronage.
President and Chief Executive Officer