Philosophy System
Toward the Realization of a Global Excellent Manufacturing Company
In the formulation of the long-term vision "2029 Sumitomo Riko Group Vision (2029V)," we reviewed our corporate philosophy system. Based on the "Sumitomo Spirit" that has been handed down in the Sumitomo Group, we have inherited the Sumitomo Riko Group Management Philosophy and the corporate group vision "Global Excellent Manufacturing Company".
On the other hand, in order to respond flexibly and swiftly to the uncertain and rapidly changing business environment and achieve further growth, we considered it necessary to clarify the Group's Purpose once again and share it with all employees and other stakeholders as an unshakable guideline.
We have now defined the Purpose of the Sumitomo Riko Group as "To realize the comfort of the society by maximizing the potential of materials through Monozukuri.” We also defined the 3 Directions and 6 Materialities for the year 2029.
Related information
The Sumitomo Riko Group is committed to its mission of "Creating Social Value" by enhancing both corporate value and public value.
Mission of the Sumitomo Riko Group
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Based on the Sumitomo Spirit, our Group will strive to solve social issues represented by the SDGs through Technological Innovation.
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We aim to create social value and grow sustainably with society by simultaneously enhancing corporate value (financial goal) and public value (non-financial goal).
2029V Formulation Process
"2029V" was formulated as a "vision of the future society we want to realize" by utilizing scenario planning with mid-career employees from each department as core members.
Then, further discussions were held from the perspective of mid-career employees, in order to create the vision of the future society that we want to realize, we identified social issues and opportunities/risks related to our company, and created a draft of materiality.
Based on the draft, we compared it to global sustainability guidelines (GRI Standards), while also considering feedback from external experts. After reaffirming the mid-level employees' thoughts on the draft, and after discussion by the board members, we identified three directions and six materialities for the realization of 2029V.
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Formulating a "vision of the future society we want to realize" using scenario planning.
- A world view from a long-term perspective was formulated by mid-level employees in each department through the following.
- Extracting important issues from a long-term perspective by mid-level employees.
- Selecting two of the key issues identified, and constructing four patterns of world views.
- By changing the above two selections in various ways, many different world views were constructed.
- The "Vision of Future Society that the Sumitomo Riko Group Wants to Realize" was formulated by selecting and consolidating the worldviews we want to realize from among these.
- A world view from a long-term perspective was formulated by mid-level employees in each department through the following.
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Formulation of 2029V
- In the "Vision of the Future Society We Want to Realize", the entire company and each division identified and consolidated what we can contribute through our business, and established "what we want to be in 2029".
- We examined the businesses and areas necessary to achieve this vision, and the need for collaboration among the three areas to realize it.
- The above was expressed and formulated as "2029V".
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Identification of "Three Directions"and "Six Materialities".
- From the perspective of each mid-career employee, and taking into account external sustainability and other guidelines, we identified social issues, changes, opportunities, and risks relevant to the Company in the "Vision of the Future Society We Want to Realize".
- Based on the extracted results, we summarized them into "three directions" and "six materialities" as important issues to be addressed for the realization of 2029V.
- During the compilation process, we received comments from stakeholders (financial institutions, business partners, external experts, etc.).
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Approval by the Management Committee and Board of Directors
- Discussions were held between mid-career employees and executives to share mid-career employees' thoughts and executives' recognition of issues.
- After discussion by all executives, Management Committee and Board of Directors approved 1-3.
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What the Corporate Group strives to be / Purpose
Introduction of the Corporate Image that the Sumitomo Riko Group should aspire to and our Purpose.
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Vision of the Future Society We Want to Realize
Introduction of the vision of the future society (a Green & Pleasant Society Connecting the Nature, City and People) that the Sumitomo Riko Group aspires to realize.
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2029 Sumitomo Riko Group Vision
Introduction of our Ideal State, which is set in the Sumitomo Riko Group's long-term vision 2029V.
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Three Directions and Materiality toward 2029
Introduction of three Directions and Materialities for the Realization of the Ideal State in 2029.
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The Sumitomo Spirit / the Sumitomo Riko Group Management Philosophy
Introduction of the Sumitomo Spirit / the Sumitomo Riko Group Management Philosophy, which are the basic principles of Sumitomo Riko.