- Structural reform to core
revenue base businesses
- Build a strong supply chain and
further strengthen stability and
competitiveness through collaboration
with partners in the revenue
base business centered on petroleum
products and chemicals.
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- Pursuing profitability in the petroleum business
(maximizing integration synergies, making refineries more reliable)
- Enabling Nghi Son Refinery to contribute to profits
- Using the pacific rim supply chain to meet growing demand in Asia
- Southeast Asia gas development
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- Risk
-
- Resource (energy, water, materials and land) use may increase due to business expansion
- Reputation decline and increased costs for environmental measures
- Opportunity
-
- GHG emissions reductions from energy efficiency improvements that could lead to cost
savings in our company
- Contributions to the improvement of accessibility to basic services such as energy infrastructure,
employment, and income distribution in new business areas. With those
contributions, it is expected that we will strengthen its ties with the local regions
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- Expansion of growth businesses
- Expand business scale and scope
by strengthening R&D in growth
fields such as functional materials
and renewable energy, which are
becoming increasingly necessary
in the world.
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- Expansion of business scale and domains (M&As on a scale of ¥100
billion during the medium-term management plan period)
- Increasing the share of functional materials business to 30% by 2030
- Increasing total power generated from renewable energy to 5GW by 2030
(of which, 4GW is renewable energy)
- Transformation of solar-power business
- Development of black pellets (biomass fuel)
- Strengthen development of functional materials through open innovation
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- Risk
-
- Resource (energy, water, materials and land) use may increase due to business expansion
- Reputation decline and increased costs for environmental measures
- Opportunity
-
- Promoting R&D can create new products and services that simultaneously create technological
innovation, solve social issues, and increase our profits
- Opportunities to expand low-carbon products and services
- Opportunities to expand agribio businesses that contribute to safe and secure food
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- Creation of next-generation
businesses
- Accelerate technological innovation
and innovation beyond organizational
frameworks to create new
businesses with an eye toward the
future.
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- Creating new businesses with an eye on social changes, diversifying
customer needs, lessening environmental impact
- Development of next-generation service stations
- Distributed energy business development, etc.
- Circular business
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- Risk
-
- Resource (energy, water, materials and land) use may increase due to business expansion
- Reputation decline and increased costs for environmental measures
- Opportunity
-
- Promoting R&D can create new products and services that simultaneously create technological
innovation, solve social issues, and increase our profits
- Opportunities to expand the renewable energy business
- New business establishments and reputation improvement through reduction of environmental
impact and effective use of resources
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- Harmony with the
global environment and society
- Promote measures to realize a
low-carbon and recycling-oriented
society in consideration of climate
change risks, and promote diversity
and inclusion in partnership
with business partners, communities,
and employees.
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- Efforts to reduce GHGs (2030: Down 2 million t-CO2 vs. 2017 (down 15%))
- Contributing to areas in which we conduct business
- Practice of diversity and inclusion
- Improving employee satisfaction
- SDGs educational activities
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- Risk
-
- Risk of increased costs such as capital investment to achieve GHG reductions
- Opprtunity
-
- Practices of specific measures to climate change can lead to improvement of our company's
reputation
- Opportunities for co-creation with partners through new initiatives
- Opportunities for regional revitalization, invigorating local economic cycles, and strong
partnership between our company and the region
- Opportunities to promote understanding of diversity among employees, which can lead to
improvements in the workplace environment and the creation of diversed innovations
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- Progress in governance
- Strengthen governance functions
to maintain the trust of shareholders
and all other stakeholders.
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- Enhancing roles and functions of the Board of Directors
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- Opportunity
-
- Transparency and fairness enhancement.
- Initiatives promotion support.
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- Acceleration of digital innovations
- Capitalize on evolving digital technologies
to transform existing business
processes and management in
response to the business environment
and customer needs.
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- Utilizing digital technologies to create new values
- Digitalization of core businesses
(established in January 2020 "Digital Innovation Department")
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- Risk
-
- Increased initial investment costs associated with the introduction of new systems and the
risk of problems during the transition period
- Opportunity
-
- Opportunities to reduce costs and create time by improving operational efficiency.
- Opportunities to solve social problems through technological innovation
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