Restrictions on activity due to COVID-19 have been lifted and there has been a shift to new lifestyles. Together with this, the flow of people is recovering and we are returning to a normal business environment. Moreover, we are starting to see resource prices gradually settling down, and personal consumption is also recovering in many countries. However, the global economy remains in a chaotic state due to various events such as fears of an economic slowdown arising from inflation reduction efforts mainly in Europe and the United States, and instability from concerns about losses on bonds held by financial institutions.

Since being appointed President of ITOCHU, I have always kept in mind the importance of being a “trusted player” no matter the circumstances. To achieve this, I believe we need to thoroughly implement the bottom-up approach to management by visiting our customers and understanding with our own eyes and ears what society and our customers need. We need to communicate with all our stakeholders, taking a medium- to long-term perspective and being aware of changes in the environment and the market, as well as changes in the products and services sought by consumers.

The global economic environment is changing dramatically, and the responsibilities sought from companies are also changing dynamically. In order to improve our corporate value, there is a need to expand and evolve in non-financial areas such as the environment, social issues and human capital in addition to having strong profit growth and a sound financial structure. We are incorporating non-financial areas into our management policies, such as our basic policies on “Realizing Business Transformation by Shifting to a Market-oriented Perspective” and “Enhancing Our Contribution to and Engagement with the SDGs through Business Activities,” as stated in our Brand-new Deal 2023 medium-term management plan. In doing so, we seek to be a trusted company that maintains a market-oriented approach amidst societal changes, undertaking business which is attuned to the new needs of our customers and society.