Message to shareholders
We aim to contribute to the future of communities around the world by continually generating innovations in anticipation of market trends.
On behalf of Moriroku Holdings, I am pleased to report on our progress in fiscal 2019, ended March 31, 2020, to the Company's shareholders and investors.
The Moriroku Group is continuing to take on new challenges as a global enterprise specializing in chemical-related products. The Group has always stayed in step with the times over its 350-year history, and we are now working towards our 400th year in business. Toward that end, we launched our new three-year medium-term business plan, Moriroku Innovation 400, in May 2019, with a view to establish a solid financial base going forward. Our policy under the plan is to create new businesses and promote innovation ahead of emerging trends in order to give the Group's business portfolio a competitive edge in the global market. Accordingly, we are pursuing three basic strategies: improve the financial base, add value to products and services, and optimally restructure the Group's businesses.
In fiscal 2019, the first year of the plan, the Group made significant progress. Each of its manufacturing plants increased productivity, and reforms to human resources systems were implemented group-wide to empower employees. The Company also invested in expanding the auto parts plant of its subsidiary, Moriroku Technology De Mexico, and constructing a new functional film plant for its subsidiary, Shikoku Kakoh, as it focused on entering growth markets to continue building up the Group's business portfolio.
In fiscal 2020, while the outlook for the global economy and international affairs is currently unclear, we are pushing ahead with initiatives for accomplishing the goals set in Moriroku Innovation 400. For example, we are conducting forward-looking research and development on lighter and thinner plastic auto parts as well as plastic applications for vehicle frames. New personnel are being recruited for this purpose. The Company is also proactively investing in resources needed for automating production plants and applying A.I. At the same time, the Group is striving to fulfill its corporate social responsibility through environmental initiatives, community engagement, sound corporate governance, and efforts to help realize the United Nations Social Development Goals.
Our management team is actively working together with the Group's employees worldwide in an effort to increase corporate value and maintain the trust of stakeholders and the public. For that purpose, we are taking steps to improve information disclosure and more closely communicate with shareholders and other stakeholders. We look forward to their ongoing support and cooperation in years ahead.