2024 New Year's Address by the President & CEO of Fuji Oil Holdings Inc.

2024 New Year's Address by the President & CEO of Fuji Oil Holdings Inc.

At the start of this new year, I’d like to offer my greetings.

Last year saw a number of events that had a large impact on food, such as the manifestation of and increasing geopolitical risks, a business recession, inflation, exchange rate fluctuations, and poor harvests of agricultural products through extreme weather.

Looking back on our 2023, we made a number of significant decisions, such as revising the Vision for our Group Management Philosophy and divesting our Fuji Oil New Orleans fixed assets to renew our portfolio with high value-added products. This year is the final year of the mid-term management plan we drafted in 2022, Reborn 2024. We’re going to continue with steady management where the utmost importance is placed on increasing our core profitability.

In this era of high uncertainty and shifting senses of values, there are a variety of issues we need to face as a food manufacturer, such as population increases, climate change, food security issues, biodiversity and human rights. Since the foundation of the Fuji Oil Group, we’ve developed our business with vegetable oils and fats and plant-based protein as our primary raw materials. As consumer interest towards food increases and demands are being made for diversity, I believe that what’s going to tie into value creation for our group is to further strengthen our business and make the most of our own unique strengths through crossovers of technologies we’ve built up by each business.

We’re going to continue to develop our business towards our Vision, “Together with our stakeholders, we will co-create a sustainable future for food, based on plant-based ingredients that are both delicious and healthy.” We’re further expanding food options with a variety of plant-based ingredients, fulfilling our responsibility towards a sustainable future for food, and making contributions to consumers, customers, and society all over the world.

We at the Fuji Oil Group look forward to receiving your continued support and guidance in this year. Thank you.