Publication of an Integrated Report
“Let not short-term gains tempt your mind, seek only enduring prosperity by embracing grand aspirations.”
These words from the first president of the former Mitsui & Co.,* Takashi Masuda, represent our foundation. His words urge us to avoid becoming overly focused on near-term profit. Rather, we must realize growth by creating businesses that contribute to society’s long-term development.
In May 2020, Mitsui released a revised version of its Mission, Vision, Values, our corporate management philosophy to coincide with the announcement of Medium-term Management Plan 2023–Transform and Grow. Revised for the first time in 16 years, the new philosophy puts Takashi Masuda’s message front and center and includes a vision whereby “As Challengers and Innovators, we create and grow business while addressing material issues for sustainable development.”
When preparing the new plan, we set goals for respective frontline operations by keeping firmly in mind the Materiality that we had previously revised in 2019 and which is the base of our business activities. More specifically, we discussed the aspects of our Materiality on which each type of day-to-day work and activity should focus.
In 2015, the United Nations identified priority tasks and set out a concrete plan of action for humanity, the earth, and global prosperity with the adoption of 17 Sustainable Development Goals (SDGs) and 169 related targets. The SDGs are embedded in Mitsui’s Materiality. I believe that by placing Materiality at the core of a broad range of businesses and activities we can help address the issues listed in the SDGs.
Efforts to realize a sustainable society are becoming ever more important due to the unprecedented speed of social change being driven by the emergence of COVID-19. In adapting to this dramatic change, Mitsui will leverage the wide-ranging network that it has developed over a long history as a general trading company. Moreover, we will reform the mindset of each employee based on the words of Takashi Masuda cited earlier. In addition, Mitsui will achieve growth by drawing on its “Challengers and Innovators” DNA to create businesses that help address social issues.
In preparing our third integrated report, we referred to the International Integrated Reporting Framework propounded by the International Integrated Reporting Council (IIRC), the Guidance for Collaborative Value Creation issued by the Ministry of Economy, Trade and Industry, and a large volume of feedback received from stakeholders. Also, the report has been prepared through close collaboration among a range of in-house divisions to provide our holistic perspective of the Group. I believe that this process reflects a sincere and honest commitment to explaining our value creation in a readily understandable manner.
From a legal perspective, there is no continuity between the former Mitsui & Co. and the present Mitsui & Co., and they are totally separate corporate entities.
Representative Director and Chairman of the Board of Directors
Chairman of the Governance Committee