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Marubeni-Itochu Steel Inc. (MISI) was launched in October 2001 through a joint incorporation-type company split, formed by spinning off and merging the steel product divisions of two premier general trading companies. Ever since, we have mobilized our integrated strength as a general trading company, raising the caliber of added value and services throughout all our transactions and business endeavors and excelling as a company fully attuned to the needs of customers. Benefiting from the invaluable support of our stakeholders, we have succeeded in steadily expanding the sphere of our business operations.
October 2021 marked the milestone twentieth anniversary of MISI’s emergence as a corporate entity. We are, however, entering an era in which the paradigms defined to date no longer align with the times. Taking this reality to heart—and to ensure that we can continue to furnish premier products and services to our customers over the decades to come—MISI is determined to boldly take the initiative to meet the changes we face, and profoundly reflect on our special roles and responsibilities.
Toward that end, we vow to maintain the uncompromising pioneer spirit that has defined the company since its establishment. That spirit refers to the combination of steadfast efforts to evolve and expand as a frontrunner in steel distribution, create new value that leads to a brighter future for our customers, and work together with our stakeholders to realize a more fruitful society.
From fiscal 2021, MISI embarked upon its seventh mid-term management plan. Under the keynote theme “MISI as Resilient towards 2023,” we are pressing forward with three defining corporate measures: prepare (reinforce our earnings base); enrich (foster our competitive advantage); and cultivate (strengthen our human resources).
The world is facing the prolonged coronavirus pandemic as well as the eruption of disputes that threaten to severely undermine global peace. These developments are also forcing dramatic shifts in the industries surrounding our company, not to mention the social fabric at large. MISI is determined to achieve the profitability and cost-competitiveness crucial to prospering even in extremely challenging times like these, while continuing to channel energies into cultivating the employee talent that remains the key to powering us to achieve that progress.
MISI will spare no time or effort in our continuing drive to value the essential bonds with the world around us. This consists of fulfilling our social duties as a responsible corporate entity, working through the steel distribution sector to boost respect for the environment, enhance compliance, devise fruitful social contribution initiatives and advance on other critical fronts.
With this pledge foremost in mind, I look forward to your continued support for Marubeni-Itochu Steel Inc. over the years to come.
President and CEO