Advancing Triple Bottom Line (Economic, Environmental, and Social) Management, We Will Embark on a Period of Innovation and Reform

  • Japanese

Putting in Place the Long-term Business Plan with an Eye to 2025

2017 marks the Mitsui Chemicals Group’s 20th anniversary since its establishment in 1997. Entering uncharted waters by adopting a substantially longer-term approach than in the past toward its business plans, the Group has embarked on a raft of new initiatives after putting in place the Long-term Business Plan in November 2016, with an eye to achieving certain goals by 2025.
I was guided by two broad lines of thought when putting in place the Long-term Business Plan. The first was the need to establish a structure that was capable of adapting flexibly to the external environment. In order to properly respond to an environment that continues to change at a dizzying pace, while at the same time ensuring our sustainable growth, we recognized the need to set specific goals from a long-term perspective. As far as the strategies required to achieve these goals are concerned, we remain acutely aware of the importance of swiftly changing business plans, while adapting to the external environment, and maintaining a robust governance system.
Second, the Plan acknowledges the need to refine the mindsets of employees responsible for the Group’s future. The Mitsui Chemicals Group’s employees are earnest almost to a fault. While we see this as a positive feature, employees have often failed to grasp the forest for the trees when carrying out the elaborate mid-term business plans of the past. Our decision to adopt an extended perspective therefore reflects the greater compatibility of a long-term approach to building the necessary strategies that help refine the mindsets of employees and achieve the next stage of growth.
Having said this, the three-year Mid-term Business Plan that began in fiscal 2014 has played a vital role in initiating the Long-term Business Plan. Under the Mid-term Business Plan, we took steps to transform the business portfolio, restructure the Basic Materials business, and expand targeted business domains that offer growth potential. As our results for fiscal 2016 clearly indicate, the rate of progress that we have achieved has far outstripped our initial expectations. In looking to bring about substantial change, I have called on employees to embrace the challenges that reform entails and to restore our strong sense of pride. Today, I can see that employees are going about their duties with increased confidence and resolve.

Advancing Triple Bottom Line (Economic, Environmental, and Social) Management

The Long-term Business Plan encapsulates our commitment to advancing triple bottom line management. In this regard, we will engage in balanced activities that focus on addressing economic, environmental, and social concerns. We have in the past identified the importance of each concern. In declaring our commitment to advancing triple bottom line management, we are putting in place the cornerstone necessary to achieve the next stage of growth and to fulfill our social responsibility as a corporate group.
Beginning with the Paris Agreement and the sustainable development goals (SDGs) put forward by the United Nations, environmental and social initiatives will play an increasingly important role in the efforts of companies to expand their businesses on a global scale.
Under these circumstances, and with a society that is placing increasingly stringent requirements on the corporate sector, the Mitsui Chemicals Group has put in place the Long-term Business Plan to clarify its stance toward a targeted future society and identify long-term goals from each of the economic, environmental, and social perspectives.

Toward Achieving Environmental and Social Targets

The Mitsui Chemicals Group has identified efforts to maximize products and services to achieve a low carbon, recycling-oriented, and cohesive society in harmony with the environment as well as increased QOL and a smart society as its long-term environmental and social goals. It goes without saying that to achieve these goals, we must ensure close-knit collaboration in advancing triple bottom line management. Our success will also go a long way to contributing to the environment and society though our business activities.
In addition to identifying the long-term goal of reducing greenhouse gas emissions as a part of efforts to minimize our environmental load, we have positioned the ratios of Blue Value™ product sales that contribute to the environment and Rose Value™ sales that help improve QOL as key performance indicators (KPIs). Products and services that are determined to have a high contribution value based on the Group’s unique indicator are certified as either Blue or Rose Value™. The Mitsui Chemicals Group will contribute to the environment and society through its business activities by proactively expanding Blue Value™ and Rose Value™ products and services while linking its efforts to growth from an economic perspective.
As another long-term goal, we will pursue thorough safety, high quality, and fairness across the entire supply chain. Working beyond the Group’s capabilities on its own, efforts will be made across the supply chain as a whole. In this context, fulfilling our social responsibility on a global scale is an essential prerequisite to accelerating the pace of overseas business development in the future. Here, I place considerable weight on the significance of “the quality of safety.” I would like to strongly impress upon employees the importance of safe quality as the basis for the sustainable growth of society. At every opportunity, it is vital that we put safety first in everything that we do.
In 2014, the Mitsui Chemicals Group once again took stock of the many challenges that management faced. Steps were then taken to identify key (materiality) issues while taking into consideration contributions to society and efforts to minimize impacts. In conjunction with efforts to put in place the Long-term Business Plan, we reconsidered these key (materiality) issues and reviewed various key performance and other indicators. Looking ahead, we will reinforce measures aimed at addressing key (materiality) issues and draw on the results of our endeavors to achieve our long-term goals.

Toward the Sustainable Development of Society and the Mitsui Chemicals Group

The Mitsui Chemicals Group’s Corporate Mission is to contribute broadly to society by providing high-quality products and services to customers through innovation and the creation of materials, while keeping in harmony with the global environment. As indicated by this statement, the chemical industry in which the Group is deeply involved must play a major role in addressing social challenges, not only as a cornerstone platform of society, but also as an entity responsible for driving innovation.
Building on the reforms implemented to date, I can sense that employees have experienced renewed growth. However, in order to achieve the long-term goals set for 2025, it is absolutely vital that we boldly adopt concepts that represent a complete break with tradition and undergo a dramatic transformation. To make it happen, each individual employee must take the initiative to help build an organization that is capable of driving itself forward. For my part, I must channel my energies toward putting the necessary environment in place to allow employees to achieve this end. Moving forward, we will work toward the sustainable development of society and the Mitsui Chemicals Group by generating synergistic effects from the strengths of each individual and achieving long-term goals.