The operating environment influencing the Meiji Group is increasingly unpredictable. Faced with factors such as skyrocketing raw material prices and ongoing yen depreciation, we are in the midst of numerous transitions that are significantly impacting operations. However, despite in this difficult environment, we remain focused on advancing initiatives based on the Meiji Group 2026 Vision as we strive to meet the expectations of our stakeholders and increase our corporate value.
In the 2023 Medium-Term Business Plan we launched in FYE March 2022, we position the Meiji ROESG®*1 as our highest priority management indicator. We are aiming for business growth and improvement in our ESG indicators while also striving to achieve sustainability targets that are unique to Meiji. Achieving this will require that we engage in ESG activities that transcend conventional CSR engagement. In other words, we must go beyond ESG initiatives that end with making social contributions. We must link these initiatives to improvements in ROE and further infuse these initiatives into our business in order to turn social issues into business opportunities.
Specifically, we will utilize our Group strengths in food and pharmaceuticals to help resolve social issues associated with global population aging. Including engaging in open innovation with external research organizations, we will engage in initiatives to create new health value.
We also view efforts related to human resources as a critical aspect of increasing our corporate value. In April 2022, we established a Group Human Capital Committee . Its goal is to establish human resource strategy that is aligned with our business strategies. We will engage in groupwide efforts related to three themes: 1) Establish human resource governance to reflect changes in our external environment, 2) Foster the core human resources who will support Group business management, and 3) Establish an organizational culture rooted in diversity and inclusion. Human resources are major source of value creation. We will increase our investments in human resources and reform our human resource management to promote sustainable growth for the Meiji Group.
We firmly believe that, in times of dramatic change, the inability to increase corporate value is what causes companies to fail. We will face this harsh reality head on as we strive for new innovation and growth for the Meiji Group.
Your continuous support would be highly appreciated.