Looking back on FY2022, we saw a year of increased uncertainty with Russia’s invasion of Ukraine, accelerating inflation, interest rate hikes by the U.S. and other global central banks, and disruptions to supply chains. Even under such circumstances, we have reframed the risks associated with these diverse changes as opportunities for our own transformation. As a result of our continued investments in new businesses and our efforts to fundamentally reform the earnings structure of existing businesses, we have achieved the highest profits in our company’s history for the second consecutive year. On the other hand, we have yet to realize a PBR of 1.0 times or above, one of the targets announced under Medium-term Management Plan 2023, which represents our evaluation by the capital market. We strive to clearly demonstrate our earnings power through our business performance, and I therefore believe it is important to continue to pursue competitiveness and growth markets, including the promotion of digital transformation strategies for value creation, and to invest in human capital to support these efforts.

Our vision for 2030 is to become a “general trading company that constantly cultivates new businesses and human capital.” I ask our employees to challenge any existing preconceptions regarding general trading companies in order to freely come up with new ideas and pursue inventive solutions so that we can continue to transform as a company amidst widespread change. We will continue our efforts to link individual growth to the growth of our company and practice sustainable value creation.