Although the globalization trend that picked up speed in the 1990s has stimulated global economic growth, it has also given rise to various global issues. Many years of discussion among the global society in relation to addressing these issues culminated in the adoption of the 2030 Agenda for Sustainable Development at the United Nations General Assembly in 2015. This move attracted a great deal of attention to the role companies need to play in realizing a sustainable society.
The Sumitomo Corporation Group conducts business activities in a wide range of industries. As we exist alongside the global society, we must contribute to realizing a sustainable society. Now is the time for us to fulfill our role as a global organization that contributes broadly to society, as stated in our Corporate Vision.
The basis for the Sumitomo Corporation Group’s operations can be found in Sumitomo’s Business Philosophy, which has formed the foundation for Sumitomo’s ongoing development over the course of 400 years. We have always valued the core concept of this philosophy: “Benefit for self and others, private and public interests are one and the same.” This core concept states that Sumitomo’s business, while benefiting Sumitomo, must also benefit the nation and benefit society. Over the years, we have continued to grow together with society, and this is one of the reasons that in 2019, we will be able to celebrate the 100th anniversary of Sumitomo Corporation’s founding.
It is our duty to go beyond simply maintaining an understanding of social changes by constantly staying a step ahead in dealing with change and leveraging our strengths to address any issues we have identified. To guide us in this pursuit, we identified “Six Material Issues to Achieve Sustainable Growth with Society” based on Sumitomo’s Business Philosophy and the Sumitomo Corporation Group’s Corporate Mission Statement. We will position these material issues as a foundation based on which we will develop medium-to-long-term management strategies and conduct individual business initiatives and thereby aid us in making greater contributions to the realization of a sustainable society. By fulfilling our duties in these areas, I am confident that we will be able to map out an even clearer path toward our continued growth together with society over the next 100 years and beyond.
President and Chief Executive Officer