The business environment surrounding the ENEOS Group is changing faster than we had envisioned in our Long-Term Vision to 2040.
Amid a global economy that has yet to recover in earnest due to impact from developments such as the COVID-19 pandemic and inflation caused by skyrocketing crude oil prices, social demands for carbon neutrality are rising and digital transformation is advancing with increasing speed.
Against this backdrop, we steadily worked in fiscal 2021 on the various measures in our second Medium-Term Management Plan, aimed at achieving our Long-Term Vision to 2040.
We took steps to strengthen the competitiveness of our base businesses, such as rebuilding our supply and production framework. We also made efforts to develop and bolster our growth businesses, such as acquiring elastomer business and Japan Renewable Energy Corporation, and deciding to expand production capacity for advanced materials.
In addition, we sold upstream business in the UK as part of executing our business portfolio strategy.
We formulated a new Carbon Neutrality Plan for the Group, which includes Scope 3 for 2050. Balancing corporate growth with contributing to a decarbonized, recycling-oriented society is both a tremendous challenge and a historic business opportunity for the Group.
To tie this opportunity to the future, we will be sure to achieve the targets in our second Medium-Term Management Plan in fiscal 2022, while working to establish our third Medium-Term Management Plan as the next stage towards realizing our Long-Term Vision.
To remain an essential company in the future, we will continue to fulfill our social mission of providing a stable supply of energy and materials, while advancing further reforms looking to sustainable, steady growth.
We ask for your continued support.
Representative Director, President Saito Takeshi