Message from outside director

The energy industry, which is at the top of the supply chain, is an important industry that holds the key to achieving carbon neutrality. I am humbled and find it very rewarding to be involved in the management of a company that carries a heavy responsibility that has a major impact on Japan's economy and people's lives. I am determined to contribute to strengthening governance with my independence and skills.

I have been participating in the Board of Directors meetings since I took office in June, and the outside directors have frankly expressed their opinions from their respective positions, and discussions have been very lively. This is exactly what a board of directors should look like. The most important thing in governance is whether or not discussions can be held openly and honestly.In that sense, our company has the basics of governance, and we have all the necessary mechanisms and systems in place. As an outside director, I would like to closely monitor whether the effectiveness of these measures is firmly ensured.

In order to achieve carbon neutrality in 2050, we will transition and transform while fulfilling our great responsibility of supporting Japanese industry and people's lives. As part of this, we are working on various technological developments, and from the technical standpoint of my main business, our company has extremely high technological capabilities. However, I believe that it is not enough just to have high technical ability; only after provide for society can it become a business and become a social infrastructure. It is necessary to consider not only self-sufficient methods but also various methods such as technical alliances and provide for society.

In order to achieve change, it is necessary to paint a picture of the future after the change as concretely as possible, saying, ''Idemitsu Kosan has such a bright future,'' and to gain the understanding of a wide range of stakeholders, including employees. By doing so, we should be able to accomplish the transition by focusing on a single vector.

In order to transition, we must try out various options to achieve success. At that time, we as outside directors recognize that our role is to provide management with more materials to help them make the best decisions. At meetings of the Board of Directors, we hold discussions at a level that is even more rigorous than at general shareholders' meetings, and at times we act as an accelerator and at other times we act as a brake, and we hope to firmly fulfill our role of supporting the direction of business execution.

I am very happy and excited to be able to work at a company that has so much potential to support Japan's present and create its future. We will do our best to contribute to "responsible change."