Stakeholder Dialogue 2009

Topic: What kind of CSR should be promoted even during the economic crisis?

Date	May 11, 2009
Panelists	Mariko Kawaguchi General Manager, Management Strategy Research Department, CMA Daiwa Institute of Research Ltd. Takejiro Sueyoshi Chairman, Japan Wood Pellet Association Special Advisor to UNEP FI and the PRI in the Asia Pacifi c region Scott T. Davis Professor, College of Business, Rikkyo University, Japan Takeshi Hara University Professor, Waseda University Leader of Waseda Environmental Round Table Guest Editorial Writer of The Mainichi Newspapers
ITOCHU Corporation	Eizo Kobayashi President and Chief Executive Officer Koji Takayanagi Chief Corporate Planning Officer Takanobu Furuta Chief Officer for New Business Development (LINEs) Kazutoshi Maeda Deputy Chief Officer for Human Resources, General Affairs, Legal

On May 11, ITOCHU held its fourth Stakeholder Dialogue. At the event, four members of ITOCHU's top management, including President Kobayashi, along with a number of guest experts held a vigorous discussion of the implications of the current crises in the fi nancial systems and real economy, and the type of CSR that ITOCHU should pursue in such an environment. Approximately 100 ITOCHU Group employees attended to hear the dialogue. (CSR Promotion Department)

Key Opinions from Participants

Mariko Kawaguchi

It is clear that both fi nance and the real economy have contracted signifi cantly with the runaway fi nancial collapse and we will not be able to sustain society on the basis of market fundamentalism alone. For companies considering their long-term strategy, now is the best opportunity to catch hold of social trends and build the next business model. The wealth that consumers demand has started to shift from material wants to more mental fulfi llment, such as the feeling of satisfaction and a sense of worth and meaning.

Takejiro Sueyoshi

The current crisis has created an opportunity to think more deeply about environmental issues and what companies' role in society will be after the economy recovers. Business is not only about production and consumption. There will be opportunities to expand businesses by creating values.

Scott T. Davis

Society is going to come out on the other side of this crisis signifi cantly changed. It is important that companies do not simply achieve short-term profi ts by analyzing social rules and performing within them, but rather take a principled management stand that is clear about why they are pursuing the type of business they do.

Takeshi Hara

It is obvious that the global environment is in danger. This economic crisis provides an impetus for companies that pursue environment-related innovations. Innovation in turn will affect the transformation of the social system, build corporate identity, and enhance employee motivation.

Reflections from the Dialogue

Kazutoshi Maeda Managing Executive Officer Chairman, CSR Committee

This year's difficult theme “What kind of CSR should be promoted even during the economic crisis?” led to a broad array of valuable opinions from experts about the proposed role of companies in this economic crisis, and the role ITOCHU Corporation should fulfill.
The present severe economic environment is precisely the very time when our seriousness towards CSR is tested. Only those companies that can adeptly act on changes in societal value during this economic crisis and perceive these as opportunities will survive. These perceptive views were very meaningful to us.
With the opinions we received today in mind, we will fulfill our own role through our main line of business, thereby contributing to the development of a sustainable society and creating a corporate culture where every employee matters and wants to contribute much more.

For the detailed discussions in the dialogue, please refer to the pages of Stakeholder Dialogue in CSR Report 2009