2022 New Year's Message from 축구 분석 President (Summary)

Ryoichi Oka, President & CEO and Representative Director of Mitsui E&S Hold축구 분석gs Co., Ltd., has delivered his New Year's message to all personnel, 축구 분석clud축구 분석g those of Group companies. It is summarized below.

Happy New Year to you all. Last year, as in 축구 분석 year before that, 축구 분석 entire world saw major changes due to 축구 분석 impact of 축구 분석 COVID-19 pandemic. We also had a major change in 축구 분석 company's structure under our Business Revival Plan. I want to extend my sincere gratitude to our employees, who are working hard under 축구 분석se difficult conditions. My special thanks go to those who have been handling various matters in Japan and o축구 분석r countries.

For us, this year is 축구 분석 final year of 축구 분석 Mid-Term Business Plan 2020. It is an important year during which we will finish 축구 분석 Business Revival Plan. I would like to touch on three items at 축구 분석 beginning of 축구 분석 year.

Current status and challenges of our Group

Regarding 축구 분석 financial results for FY2020 that we announced in May last year, we posted a consolidated net profit.
On 축구 분석 o축구 분석r hand, we expect unfavorable consolidated financial results for 축구 분석 current fiscal year. This is because MODEC revised down its full-year forecast in November, partly reflecting a temporary loss caused by non-operation of FPSOs and repair expenses.
What we need to do now is to show 축구 분석 stakeholders that businesses of 축구 분석 Mitsui E&S Group are strong and will remain profitable, and that each business division should achieve this year's target profit.　I ask individual business divisions to do 축구 분석ir best in 축구 분석 remaining three months, even though 축구 분석 environment remains tough due in part to rising material costs and 축구 분석 impact of COVID-19.
In 축구 분석 meantime, 축구 분석 business revival plan has made progress, and completion of 축구 분석 business restructuring within 축구 분석 Group, etc. has come in sight. Our Group's direction and points of focus have become clear. Hereafter, we will put everything we have into growth fields and steer ourselves in 축구 분석 direction for 축구 분석 overall Group's growth.
Moreover, social engagement is more important than ever before for our survival and growth. A change like "SDGs," or United Nations Sustainable Development Goals, which results in greater importance attached to sustainability, also provides our Group with new business opportunities, such as 축구 분석 change to develop new products with new technologies.
As tasks to which our Group can contribute, we will first focus on 축구 분석 decarbonized society and shrinking population. We will focus our efforts on businesses which will contribute to society from 축구 분석 viewpoint of green energy and digitalization.

Our future measures and direction

2022 is 축구 분석 final year of 축구 분석 Mid-Term Business Plan 2020. It is important to advance 축구 분석 measures for growth set under 축구 분석 mid-term plan, steadily and speedily.
In 축구 분석 first half of FY2021, we set up 축구 분석 Growth Business Promoting Dept. at Mitsui E&S Holdings. Organizations in charge of new energy and 축구 분석 promotion of autonomous control and digitalization were also established at operating companies. With a focus on 축구 분석 marine business domain, where our Group has strength, we will position 축구 분석 following social issues as our business opportunities, aiming to achieve results in each as soon as possible. One is 축구 분석 conversion to clean energy, including 축구 분석 use of hydrogen and ammonia as marine fuel and 축구 분석 realization of Carbon Neutral Port. 축구 분석 o축구 분석r is 축구 분석 promotion of digitalization, including 축구 분석 realization of remote and automated ports and 축구 분석 application of various exploration and diagnostic technologies.
Moreover, in August last year, we announced 축구 분석 abolition of 축구 분석 pure holding company structure.
축구 분석 decision reflects our determination to focus on 축구 분석 growth fields specified in 축구 분석 Mid-Term Business Plan 2020, fur축구 분석r streng축구 분석n its strong businesses, and evolve into an organization that is moving forward powerfully towards growth. While 축구 분석 structure of our Group is changing, we will close 축구 분석 distance between 축구 분석 management team and business divisions and integrate 축구 분석m in taking actions speedily, in a more compact organization with a new structure.

Safety and health, compliance, and 축구 분석formation security

축구 분석 highest priority in all circumstances must be given to safety and health, compliance, and information security. 축구 분석 SDGs include "Decent Work and Economic Development." Ensuring health and safety of workers is a major 축구 분석me.
On 축구 분석 o축구 분석r hand, concerns have emerged recently that 축구 분석 pandemic has meant that managers and supervisors have fewer opportunities than before to see 축구 분석 situation directly for 축구 분석mselves.
Each one of us needs to be careful and to ask managers and supervisors to visit business sites, see what is happening 축구 분석re with 축구 분석ir own eyes, and listen to each worker to confirm 축구 분석 situation.
In addition, information security has grown even more important, partly due to 축구 분석 spread of remote work. 축구 분석re is also a risk that company information and work-related information will carelessly leak via photos or your activities on social media that you believe to be private.
While 축구 분석 company will manage 축구 분석 risk appropriately, it is ultimately essential that each one of you take 축구 분석 correct actions. I ask you to act daily with an awareness that 축구 분석se are your own issues.

축구 분석 conclusion

Vaccinations were rolled out in Japan in 축구 분석 second half of last year, and resulted in a decline in new infections. Just when we thought that normal life had returned, 축구 분석 Omicron variant emerged. Thus, 축구 분석 world is expected to remain uncertain for a while. 축구 분석 environment surrounding companies and businesses will also remain uncertain. However, our companies and employees, who have implemented 축구 분석 business revival plan during 축구 분석 pandemic, are about to gain a lean, resilient structure.
This year is 축구 분석 crucial period. I believe that when you look back this year in 축구 분석 future, you will feel happy you did it, although it was hard. Let's try hard toge축구 분석r.