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Marubeni-Itochu Steel Inc. (MISI) was launched in October 2001 through a joint incorporation-type company split, engineered by spinning off the steel product divisions of two top-ranked general trading companies. Over the years since, we have continued to mobilize our integrated strength as a general trading company, raising the caliber of added value and services throughout all transactions and business endeavors, and excelling as a corporate entity fully attuned to the needs of our customers. Thanks to the invaluable support of our stakeholders, MISI has succeeded in steadily expanding the sphere of our business operations.
Fiscal 2021 marks the milestone twentieth year since MISI became 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.
Our seventh mid-term management plan, which will guide us through the next three years, commences in fiscal 2021. Under the motto “MISI as Resilient towards 2023,” we will strive to achieve these three core measures: prepare (reinforce our earnings base); enrich (foster our competitive advantage); and cultivate (strengthen our human resources).
The onset of the coronavirus pandemic triggered numerous changes in the industrial environment surrounding our company, as well as in the social fabric at large. Against this backdrop, we are striving to achieve the profitability and cost-competitiveness that are crucial to advancing and prospering in this fiercely demanding new age.
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 respectfully ask for your redoubled support for and guidance of Marubeni-Itochu Steel Inc. as we commence our landmark twentieth year.
President and CEO