04/11/2024 | Press release | Distributed by Public on 04/11/2024 00:14
April 11, 2024
Mitsui Fudosan Co., Ltd.
Mitsui Fudosan Co., Ltd. (the "Company"), hereby announces that the Company has formulated its new Group Philosophy and the long-term vision, & INNOVATION 2030, through to fiscal 2030.
In 2018, the Group formulated its long-term vision, "VISION 2025," and has worked diligently to establish a sustainable society through the creation of neighborhoods, harness technology to innovate the real estate business, and evolve into a global company. As a result, the Group's business has expanded on a global scale and evolved into the form outlined in VISION 2025.
The world is today experiencing a major paradigm shift. Seizing these changes as an opportunity to evolve as an industry developer or platformer that goes beyond the boundaries of a real estate developer, we will contribute more than ever to the creation of innovation and added value for society.
The world is today experiencing a major paradigm shift. Meanwhile, the Japanese economy is transitioning toward a new phase, with the Nikkei Stock Average reaching record highs, the lifting of the negative interest rate policy, and introduction of wage increases aimed at putting an end to "the lost 30 years" that followed the nation's bubble economy. In order to promote value creation in this new era, we must transform and evolve ourselves. With this in mind, we reexamined our raison d'étre and redefined Our Philosophy. Moreover, we have formulated the corporate message "Transforming the city Transforming the future" to summarize Our Philosophy and indicate the direction in which the Group is moving.
In addition, we have revised our group logo to better clarify the "&" philosophy in the "& mark" and express as a more fluid and robust symbol.
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& INNOVATION 2030 codifies our vision as a group "to contribute to the creation of added value for society as an industry developer." "Creating social value" leads to differentiation and competitiveness, which in turn helps "create economic value." The economic value created then helps create even greater social value. Based on this understanding, we will promote the creation of both "social value" and "economic value" to achieve our goals. Our VISION aims to bring the Group's DREAM for 2030 to a REALITY by conceptualizing specific strategies while turning these two wheels of a cart.
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The Group's shareholder return policy will also be applied to the fiscal year ended March 31, 2024. For details, please refer to the press release, "Announcement regarding Revisions of Dividend Forecast and the Determination of Share Repurchase" dated April 11, 2024.
URL: https://www.mitsuifudosan.co.jp/english/corporate/ir/library/news/2024/pdf/20240411.pdf
The Mitsui Fudosan Group identified (1) Promote further core business growth, (2) Expand into new asset classes in the real estate domain, and (3) Explore new business domains and capture business opportunities that go beyond the real estate domain as its three business strategy paths. Precisely since we can now expect solid growth in our core businesses, we will search for new business seeds that are expected to display significant future growth and nurture them into new sources of revenue to realize the Group's growth.
To that end, we have established the following investment limits:
We will put into practice ambidextrous management, by which we will promote further growth in our core businesses and neighboring fields, while also searching for business opportunities in new business domains beyond our existing real estate domain.
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For details of the new long-term vision, & INNOVATION 2030, please refer to the following:
URL:https://www.mitsuifudosan.co.jp/english/corporate/innovation2030/
Based on its new Philosophy, the Mitsui Fudosan Group has also revised its "GROUP MATERIALITY" and identified the following six priority issues: 1. Contribute to industrial competitiveness, 2. Coexist with the environment, 3. Health and vitality, 4. Safety and security, 5. Diversity and inclusion, and 6. Compliance and governance.
Details of progress in creating social value through the Group's new long-term vision, & INNOVATION 2030 in response to this materiality will be disclosed in the Group's Sustainability Report scheduled for publication in August 2024. For details of the Group's new materiality, please refer to the following:
URL: https://www.mitsuifudosan.co.jp/english/esg_csr/approach/materiality/