Message from the President
Takanori Ono, President
I would like to take this opportunity to express my sincere appreciation to our shareholders and investors for their generous support.
Based on the principles of “Sumitomo’s Business Philosophy” that call for integrity, sound management, and not pursuing immoral business, Sumitomo Warehouse Group (“the Group”) provides a comprehensive logistics business built around warehousing and supported by harbor transportation, international transportation and land transportation, as well as a real estate business centered around office building rental. All of these business endeavors are firmly rooted in our Corporate Philosophy: “We will provide earnest and timeless support for logistics functions as the social infrastructure, which is needed by all, while also working to create new services sought after by our customers and society.”
Looking at the business environment surrounding the Group, social activity has been revitalized by the easing of behavioral restrictions imposed to combat COVID-19 and a recovery in business conditions is expected. Nevertheless, the outlook is uncertain, with fears that prolonged high prices could depress demand and lead to the emergence of an economic slowdown, and other concerns.
During the period of the fourth Medium-Term Business Plan (FY2020-FY2022), the Group proceeded with such initiatives as building new warehouses both in Japan and overseas, and enhancing the functionality of existing warehouses, as well as transferring the shares, etc. of the marine transportation business in the US, and implementing measures to achieve the goal of “strengthening the business foundation” that was set in the Medium-Term Business Plan.
In March 2023, the Group formulated the fifth Medium-Term Business Plan. Over the three-year period between FY2023 and FY2025, we will concentrate management resources on the two core businesses of logistics and real estate, and accelerate our rate of growth.In the logistics business, in addition to enhancing our locations both in Japan and overseas, we will work to expand the logistics business overseas. In addition, we will promote digital transformation (DX), as well as seeking to automate operations and improve their efficiency, so as to provide customers with even higher value-added logistics services.In the real estate business, we will leverage the know-how we have accumulated in the leasing business to actively invest in the business, in addition to working to expand the business domain and raise profitability.At the same time, in response to the problem of climate change that is shared by all humankind, we will set targets for reducing greenhouse gases, promote initiatives to achieve those targets, enhance our investments in the people that support the development of the Group’s business, and aim to achieve sustainable growth.Through the promotion of these business strategies, we will continue our efforts to enhance shareholder returns and raise corporate value further.
I would like to express my appreciation to our shareholders and investors for their understanding, and look forward to your support of these efforts.