Message from the President & CEO
Amid ongoing economic uncertainty, we will make every effort to ensure profitability.
First of all, let me extend my heartfelt gratitude to our shareholders for your ongoing support.
Mitsui Chemicals posted operating income before special items of ¥18.6 billion for the first half of FY2020, down ¥21.1 billion compared with the same period a year ago. Although market conditions for certain products improved, a decline in sales volume largely due to the impact of COVID-19, as well as inventory valuation loss caused by lower prices of naphtha and other raw materials and fuels, contributed to this decrease among other factors. While the economic climate continues to be uncertain, however, we have raised our full-year forecast for operating income before special items to ¥50 billion, ¥10 billion higher than the initial plan.
Despite the tough business environment, we set the interim dividend at ¥50 per share (the same as for the first half of the previous fiscal year) in consideration of the stability and continuity of shareholder returns. We will continue striving to enhance shareholder returns.
As the world continues to grapple with the COVID-19 pandemic, we have been taking necessary steps to reduce the infection risk of our employees and stakeholders (including teleworking and staggered working hours), and are working to maintain our company's functions and ensure safe and stable operation at our plants.
Mitsui Chemicals has vigorously pursued the transformation of its business portfolio toward the targets set out in our Long-Term Business Plan, VISION 2025, and is now nearing the halfway point since its formulation in 2016. Over the past four years, the social environment surrounding our company has changed profoundly, with technological innovations such as digitalization advancing at a pace beyond all expectations, and awareness of sustainability issues such as plastic waste further on the rise. In light of these changes, we are currently undertaking a review of our Long-Term Business Plan with sights set on 2030 as the new goal year.
In times like these, we will set our gaze high as we look to the future, and aim to be a sustainable corporate group with a global presence that will achieve the goals it has set for itself with certainty and achieve sustainable growth together with society.
I thank you again for your support and for accompanying us on this journey.
President & CEO
Hashimoto joined Mitsui Petrochemical Industries, Ltd. (currently Mitsui Chemicals, Inc.) in 1987, and subsequently held positions spanning human resources, health care and other businesses, and business planning fields.
In 2014, he was appointed General Manager of the Corporate Planning Division, where he spearheaded the formulation of Mitsui Chemicals’ long-term business plan for 2025.
Then in 2017, Hashimoto assumed the role of Managing Executive Officer. While also serving as Business Sector President of the Health Care Business Sector and General Manager of the New Health Care Business Development Division, he drove the expansion of the Health Care business, one of Mitsui Chemicals’ three target domains.
Hashimoto has been serving as President and CEO of Mitsui Chemicals since April 1, 2020.