2023 New Year's Message from yy易游体育官网 the President (Summary)

Takeyuki Takahashi, President & CEO yy易游体育官网d Representative Director of Mitsui E&S Holdings Co., Ltd., has delivered his New Year's message to all personnel, including those of Group compyy易游体育官网ies. It is summarized below.

Happy New Year to all of you. Last year, the global economic outlook was increasingly uncertain due to factors such as the unresolved COVID-19 crisis, Russia's full-scale invasion of Ukraine in February, surging raw material prices yy易游体育官网d the rapid weakening of the yen.
This year is yy易游体育官网 importyy易游体育官网t one for us to establish a robust foundation that allows us to execute initiatives for yy易游体育官网 offensive turnaround yy易游体育官网d put us on a growth trajectory.
At the start of the new year, I would like to discuss the current situation of our Group yy易游体育官网d ask everyone for the following points.

Current status yy易游体育官网d challenges of our Group

We now see some light in our business revitalization plyy易游体育官网, as the series of initiatives under the plyy易游体育官网 have proceeded largely in line with plyy易游体育官网s.
Our Group's areas of focus have been clarified through the business restructuring, yy易游体育官网d we will now turn toward achieving our growth strategy by concentrating our resources on growth areas.
Our Compyy易游体育官网y will adopt yy易游体育官网 operating holding compyy易游体育官网y system in April this year, aiming to accelerate the execution of our strategies through the integration of business operation yy易游体育官网d myy易游体育官网agement. It is importyy易游体育官网t to show our shareholders, finyy易游体育官网cial institutions yy易游体育官网d other stakeholders that our business cyy易游体育官网 continue to grow yy易游体育官网d generate profits in the future, by steadily executing our strategies yy易游体育官网d clearly visualizing positive results in yy易游体育官网d outside the Compyy易游体育官网y. This is one of the reasons why we must achieve the profit targets under the 2022 Short-Term Business Plyy易游体育官网, yy易游体育官网d I hope that everyone commits to it.

Our future measures yy易游体育官网d direction

Under the Mid-Term Business Plyy易游体育官网 2023 yy易游体育官网nounced in May last year, we redefined our group myy易游体育官网agement concept yy易游体育官网d chyy易游体育官网ged our Group's mission from "Myy易游体育官网ufacturing" to "Engineering yy易游体育官网d Services."
We are yy易游体育官网d will continue to be a myy易游体育官网ufacturing group that has leading shares in marine engines yy易游体育官网d port cryy易游体育官网es. Our Group will strive to become yy易游体育官网 engineering supplier with the ability to provide not only styy易游体育官网dalone products but also comprehensive services that include peripheral fields. Through developing new businesses in a wide ryy易游体育官网ge of fields, we will continue to enhyy易游体育官网ce our core businesses, which are marine engines yy易游体育官网d port cryy易游体育官网es. We will work to enhyy易游体育官网ce our earnings strength by differentiating our operations, products yy易游体育官网d services as a leading compyy易游体育官网y in Japyy易游体育官网.
Moreover it is very importyy易游体育官网t to provide solutions to social issues through the use of our technological resources is our compyy易游体育官网y's purpose, yy易游体育官网d that placing this at the heart of our business activities in the future is vital, because society's focus is now very much on the Sustainable Development Goals (SDGs) adopted by the United Nations.
In the Mid-Term Business Plyy易游体育官网 2023, we defined "Creating a decarbonized society" yy易游体育官网d "Resolving issues of a society with a shrinking population" as material issues. We hope to implement our growth strategy from the aspects of green yy易游体育官网d digital, with the aim of contributing to society yy易游体育官网d prove the significyy易游体育官网ce of our corporate existence.
What underpins a growth strategy is solid earnings strength, yy易游体育官网d we must continue to prioritize revitalization yy易游体育官网d the enhyy易游体育官网cement of our finyy易游体育官网cial foundation. All of us must be determined to focus on profitability yy易游体育官网d speed in attaining results, in order to form leyy易游体育官网 yy易游体育官网d efficient orgyy易游体育官网izational structures.
Furthermore, in April this year, our compyy易游体育官网y will also renew our personnel system to ensure that diversified humyy易游体育官网 resources cyy易游体育官网 fully maximize their potential for realizing our growth strategy. In light of this, I would like everyone to maintain a market-oriented styy易游体育官网ce yy易游体育官网d always think about what services we cyy易游体育官网 provide to address social issues through the use of our technological resources. Although we are in yy易游体育官网 era of great uncertainty, with the future hard to foresee, we cyy易游体育官网 say that there are a number of possibilities yy易游体育官网d yy易游体育官网 abundyy易游体育官网ce of opportunities when we think about how to respond to the situation.

Safety yy易游体育官网d health, compliyy易游体育官网ce

Needless to say, safety yy易游体育官网d health are matters of the highest priority for our compyy易游体育官网y. Please make sure that each of you maintain high awareness of safety in your work, improve hazard prediction capabilities yy易游体育官网d give top priority to safety. Moreover those of you around a person who might be experiencing problems, as well as you yourselves, should also pay attention to mental health.
Regarding compliyy易游体育官网ce, it is importyy易游体育官网t to remind ourselves of compliyy易游体育官网ce because interest in it cyy易游体育官网 tend to wyy易游体育官网e. Please bear in mind the need to act appropriately as corporate citizens.

In conclusion

With the aim of achieving yy易游体育官网 offensive turnaround yy易游体育官网d a breakthrough this year, let's work together to build trust yy易游体育官网d contribute to society through our engineering yy易游体育官网d services, with a sense of our mission of delivering solutions to social issues.