Formulation of 2029V and 2025P

On May 30th, we announced "2029 Sumitomo Riko Group Vision" (2029V) and "2025 Sumitomo Riko Group Mid-term Management Plan" (2025P).

In the morning, we held a briefing for the media on the 3rd floor of JP Tower Nagoya, where our global headquarters is located, and in the evening, we held another briefing for institutional investors and securities analysts in Tokyo. For an overview of 2029V and 2025P, please check the press release and website that we sent out yesterday.

https://www.sumitomoriko.co.jp/english/news/2023/jjs0va000000006g-att/n51910679-e.pdf

https://www.sumitomoriko.co.jp/english/ir/vision.html

2029V

This time, we asked employees in their 40s to early 50s, who will be in the core of management in 2029, to discuss and draft a rough proposal, which was then finalized with the participation of the current management members.

Regarding the Purpose “To realize the comfort of the society by maximizing the potential of materials through Monozukuri”, and What We Strive to Be in 2029 “A leading solution provider taking on social challenges by aggregating whole resources of Sumitomo Riko and its partners”. Mid-level employees gathered, including myself and other board members, and we formulated our proposals through thorough discussions in regards to our “What the future society strives to be” and “the reconfirmation of Core Competencies”.

What I would like to say to our employees is, "Let's look ahead to 2050 and even further into the future, and work together now to reform ourselves toward our goals for FY2029 and FY2025.

It is important that we contribute to society by responding flexibly and speedily to change, while leveraging our strengths and pursuing co-creation within and outside the Group.

2025P

For 2025P, our three-year plan, we are backcasting from 2029V and setting up our goals.

In other words, the key to our growth toward FY2029 is the hard work we put in during these next three years.

The focal points are "Developing People and Peers who pioneer the future," "Building a Flexible and Strong Organization," and "Creating Values for a Sustainable Society.

In particular, I am expecting supervisors to understand the importance and urgency of formulating plans of your work in accordance with these directions.

From now on, I and other members who have participated in the discussion in formulating 2029V will visit each of our bases to explain the details.

I hope that each and every employee of the Sumitomo Riko Group will think about 2029V and 2025P, and actively communicate with each other.

After celebrating the 100th anniversary of our founding in 2029, let us all move forward with "Banji-nissei" to ensure that the Sumitomo Riko Group will continue to be needed by society 100 years from now!