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Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga) will implement organizational restructuring effective April 1, 2019. The purpose and details of the restructuring are outlined below.
In order to further strengthen non-resource areas, Mitsui will remove the boundaries between traditional product-based business areas, and regroup and transform its business organizations according to functional capabilities with a focus on consumers and customers. Through these changes, it aims to further strengthen its business framework, enabling it to engage flexibly and comprehensively with continually changing business opportunities, while also evolving its business models. Mitsui will also strengthen its corporate units in order to contribute to the sustainable social growth and to solutions to global issues from a sustainability perspective.
(1) Corporate Development Business Unit
The Real Estate Business Division, which is currently part of the Consumer Business Unit, will be integrated into the Corporate Development Business Unit to strengthen collaboration between real estate business and asset management. By this change, Mitsui aims to create new business models, strategies, and organizational structures in order to pursue development profit and investment returns, as well as to further improve the profitability of its real estate business as a core business segment for the future.
(2) Food & Retail Management Business Unit
The Fashion & Textile Business Division of the Consumer Business Unit will be integrated into the Food & Retail Management Business Unit. Mitsui will enhance its earning power by interactively utilizing consumer data, digital marketing, logistics, and other functions to strengthen consumer-focused retail business operations. The aim is to facilitate convenience and healthy, fulfilling lifestyles on a global basis.
(3) Performance Materials Business Unit
The Life Essentials Business Division of the Consumer Business Unit will be integrated into the Performance Materials Business Unit. By adding forest resources, paper, tires, timber, and building materials business to its existing materials business, which includes packaging materials and construction materials, Mitsui will strengthen its ability to achieve synergies by using its global networks to drive business that encompasses industry boundaries in order to access growth areas from the perspectives of materials business, and to further enhance its profitability.
(4) Corporate Sustainability Division
The growing global importance of sustainability is reflected in the United Nations Sustainable Development Goals (SDGs) and the environmental, social, and governance (ESG) factors. Mitsui will integrate and strengthen the sustainability-related functions of the Corporate Planning & Strategy Division and the Environmental-Social Contribution Division under the new Corporate Sustainability Division. With responsibility for the promotion of sustainability management integrated under this new division, Mitsui will work from a long-term perspective to achieve a good balance between contributing to sustainable economic and social development in countries and regions worldwide and solutions to global issues, such as climate change, through its globally diverse business activities.