At the turn of the twenty-first century, the energy industry underwent a major transformation, triggered by the globalization of the world's economies and a heightened focus on the environment.
Idemitsu Kosan Co., Ltd.
President
Kazuhisa Nakano
At the end of the 20th century, energy industries such as petroleum have undergone dramatic changes driven by the two factors of economic globalization and global environmental issues.
Since its foundation, Idemitsu has based its management principles on the concept of "people-centered business administration that shows respect for human beings", and has, since entering the 21st century, promoted structural reforms aimed at contributing to the realization of a more sound and accessible company through the concepts such as "selection and consolidation of business lines", "active business collaboration with other companies"," financial reinforcement" and "improvement of corporate governance". We have established our business strategy based on the adoption of the theme "Achieving stable, and sustainable growth" the Second Medium-Term Management Plan for the period between fiscal year 2005 and fiscal year 2008 and derived the business into three strategic segments. While on the one hand pursuing optimization of and heightened competitiveness on the domestic front for our Core Business focusing on fuel products, we are also promoting business development overseas based on the application of technology and know-how. On the Resource Business front, we are advancing the balanced development of resources such as petroleum, coal and uranium. We are also aiming at the achievement of stable energy supply by securing reserves and expanding production volume from a medium- to long-term perspective while maintaining a balance between risks and profitability. In our High Value-Added Business such as lubricants, engineering plastics, and electronic materials, we are striving toward the further development of technologies we have built in the fields such as oil refinement and petrochemicals with the goal of achieving positive expansion of business based on competitive products founded on our unique technological strengths. Through the steady implementation of these strategies, it is our aim to realize a balanced business portfolio and sustainable growth.
Idemitsu Group commits itself to uphold its management philosophy that have been in place since its foundation, the further enhancement of corporate values through the provision of products, technology and services, the achievement of the trust of our shareholders, customers and local communities as well as an accessible, transparent company and the realization of contributions to society.
