2023 New Year's Address by the President & CEO of Fuji Oil Holdings Inc.
I would like to offer my greetings at the beginning of the year.
Last year saw an onslaught of significant events that have had an effect on our business environment, such as the effect on the economy in certain regions due to the ongoing COVID-19 pandemic, segmentation of the supply chain and increases and sudden fluctuations in the price of raw materials due to the crisis in Ukraine, and changes to financial measures and fluctuations in the exchange rate that accompany an increase to the price of commodities.
Under such circumstances, we have been fulfilling our mission of providing a stable supply of food. However, now that both COVID-19 and geopolitical risks have become the new normal, we are now executing a Reborn.
2022 was a significant year for the Fuji Oil Group to settle a number of significant decisions that would have effects on management in the medium to long-term, such as the disclosure of our Mid-term Management Plan, Reborn 2024, and our Vision for 2030 in May and transition to a Company with An Audit and Supervisory Committee in June.
The three key policies of the mid-term management plan "Reborn 2024" formulated last May are "strengthening of business foundation", "strengthening global management", and "enhancing sustainability”.
In the development of our business with vegetable oils and fats and proteins as primary raw materials, shifting to a high value-added, profitable business portfolio that makes the most of our strengths will allow us to achieve long-term growth and to make contributions to all of our stakeholders.
The responsibility that corporations have to society and the global environment is growing year by year, and our role in providing a sustainable future for food through our value chain, from raw materials procurement to supply of products, is also growing.
Implementing the three key policies raised in Reborn 2024 will allow us to fulfil our responsibility as a food manufacturer and to be Reborn into a Fuji Oil Group that is capable of dealing with changes in the business environment.
Regarding the current business environment, the situation continues to be difficult. We’re going to move forward with management that is grounded while preventing risk and reducing costs.
Regardless of the situation that we may find ourselves in, I believe that the Fuji Oil Group will continue to be an essential company in the countries and regions in which we do business.
We at the Fuji Oil Group look forward to receiving your continued support and guidance in this year.