Launched in October 2001, Marubeni-Itochu Steel Inc. (MISI) was the pioneer of a bold new business model—the industry’s first merger formed by spinning off the steel business divisions of two leading general trading companies. Over the years since, MISI has taken strong steps forward in its mission to generate new value through the fusion of these different corporate cultures, all while maintaining and expanding its intrinsic strengths as a general trading company.
Fiscal 2018 marks the start of our sixth medium-term management program. Under the catchphrase “Fit for Innovation 2020,” this plan focuses on three core strategies: correspond (adapt to change), execute (implement new strategies), and transform (spearhead progressive innovation).
Our aim is to generate the groundbreaking business domains the emerging new era demands as we set up independent functions designed to supply customers with top-caliber services keyed to the changing times. As one crucial phase of this effort, MISI is focusing on structural reforms attuned to the increasingly sophisticated needs of its customers.
True to the MISI Group’s policy of transformation into a genuine global corporate power as an integrated coordinator in steel distribution, these core strategies will be steadily put into practice as we strive to attain our declared goals.
MISI’s cornerstone is the spirit of the Three-Way Benefit—the benefit for the seller, the buyer and society—a philosophy cherished as the business foundation of the traditional merchants from the Omi region in western Japan years ago. Complementing this core philosophy is the “Three-Way Plus One Benefit”, with the additional 'plus one' benefit pointed towards the employees, designed to develop their talent and ensure that our people, organizations and assets earn even greater trust and support from all parties involved.
MISI will naturally continue to underscore the vital importance of the bonds with the world around us. This consists of fulfilling our social duties as a responsible corporate entity through enhanced respect for the environment, strengthened compliance, fruitful social contribution initiatives and endeavors on other critical fronts.
With this commitment foremost in mind, I look forward to your renewed understanding and support of Marubeni-Itochu Steel Inc. as we strive to meet the full range of our challenges over the years ahead.
Tomohito Kaneda, President and CEO