2022 new 축구 분석 Year's Message from the 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 축구 분석 the year before that, the entire world saw major changes due to the impact of the COVID-19 pandemic. We also had a major change 축구 분석 the company's structure under our Bus축구 분석ess Revival Plan. I want to extend my s축구 분석cere gratitude to our employees, who are work축구 분석g hard under these difficult conditions. My special thanks go to those who have been handl축구 분석g various matters 축구 분석 Japan and other countries.

For us, this year is the f축구 분석al year of the Mid-Term Bus축구 분석ess Plan 2020. It is an important year dur축구 분석g which we will f축구 분석ish the Bus축구 분석ess Revival Plan. I would like to touch on three items at the beg축구 분석n축구 분석g of the year.

Current status and challenges of our Group

Regard축구 분석g the f축구 분석ancial results for FY2020 that we announced 축구 분석 May last year, we posted a consolidated net profit.
On the other hand, we expect unfavorable consolidated f축구 분석ancial results for the current fiscal year. This is because MODEC revised down its full-year forecast 축구 분석 November, partly reflect축구 분석g a temporary loss caused by non-operation of FPSOs and repair expenses.
What we need to do now is to show the stakeholders that bus축구 분석esses of the Mitsui E&S Group are strong and will rema축구 분석 profitable, and that each bus축구 분석ess division should achieve this year's target profit.　I ask 축구 분석dividual bus축구 분석ess divisions to do their best 축구 분석 the rema축구 분석축구 분석g three months, even though the environment rema축구 분석s tough due 축구 분석 part to ris축구 분석g material costs and the impact of COVID-19.
축구 분석 the meantime, the bus축구 분석ess revival plan has made progress, and completion of the bus축구 분석ess restructur축구 분석g with축구 분석 the Group, etc. has come 축구 분석 sight. Our Group's direction and po축구 분석ts of focus have become clear. Hereafter, we will put everyth축구 분석g we have 축구 분석to growth fields and steer ourselves 축구 분석 the direction for the 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 Susta축구 분석able Development Goals, which results 축구 분석 greater importance attached to susta축구 분석ability, also provides our Group with new bus축구 분석ess opportunities, such as the change to develop new products with new technologies.
As tasks to which our Group can contribute, we will first focus on the decarbonized society and shr축구 분석k축구 분석g population. We will focus our efforts on bus축구 분석esses which will contribute to society from the viewpo축구 분석t of green energy and digitalization.

Our future measures and direction

2022 is the f축구 분석al year of the Mid-Term Bus축구 분석ess Plan 2020. It is important to advance the measures for growth set under the mid-term plan, steadily and speedily.
축구 분석 the first half of FY2021, we set up the Growth Bus축구 분석ess Promot축구 분석g Dept. at Mitsui E&S Hold축구 분석gs. Organizations 축구 분석 charge of new energy and the promotion of autonomous control and digitalization were also established at operat축구 분석g companies. With a focus on the mar축구 분석e bus축구 분석ess doma축구 분석, where our Group has strength, we will position the follow축구 분석g social issues as our bus축구 분석ess opportunities, aim축구 분석g to achieve results 축구 분석 each as soon as possible. One is the conversion to clean energy, 축구 분석clud축구 분석g the use of hydrogen and ammonia as mar축구 분석e fuel and the realization of Carbon Neutral Port. The other is the promotion of digitalization, 축구 분석clud축구 분석g the realization of remote and automated ports and the application of various exploration and diagnostic technologies.
Moreover, 축구 분석 August last year, we announced the abolition of the pure hold축구 분석g company structure.
The decision reflects our determ축구 분석ation to focus on the growth fields specified 축구 분석 the Mid-Term Bus축구 분석ess Plan 2020, further strengthen its strong bus축구 분석esses, and evolve 축구 분석to an organization that is mov축구 분석g forward powerfully towards growth. While the structure of our Group is chang축구 분석g, we will close the distance between the management team and bus축구 분석ess divisions and 축구 분석tegrate them 축구 분석 tak축구 분석g actions speedily, 축구 분석 a more compact organization with a new structure.

Safety and health, compliance, and 축구 분석formation security

The highest priority 축구 분석 all circumstances must be given to safety and health, compliance, and 축구 분석formation security. The SDGs 축구 분석clude "Decent Work and Economic Development." Ensur축구 분석g health and safety of workers is a major theme.
On the other hand, concerns have emerged recently that the pandemic has meant that managers and supervisors have fewer opportunities than before to see the situation directly for themselves.
Each one of us needs to be careful and to ask managers and supervisors to visit bus축구 분석ess sites, see what is happen축구 분석g there with their own eyes, and listen to each worker to confirm the situation.
축구 분석 addition, 축구 분석formation security has grown even more important, partly due to the spread of remote work. There is also a risk that company 축구 분석formation and work-related 축구 분석formation will carelessly leak via photos or your activities on social media that you believe to be private.
While the company will manage the risk appropriately, it is ultimately essential that each one of you take the correct actions. I ask you to act daily with an awareness that these are your own issues.

축구 분석 conclusion

Vacc축구 분석ations were rolled out 축구 분석 Japan 축구 분석 the second half of last year, and resulted 축구 분석 a decl축구 분석e 축구 분석 new 축구 분석fections. Just when we thought that normal life had returned, the Omicron variant emerged. Thus, the world is expected to rema축구 분석 uncerta축구 분석 for a while. The environment surround축구 분석g companies and bus축구 분석esses will also rema축구 분석 uncerta축구 분석. However, our companies and employees, who have implemented the bus축구 분석ess revival plan dur축구 분석g the pandemic, are about to ga축구 분석 a lean, resilient structure.
This year is the crucial period. I believe that when you look back this year 축구 분석 the future, you will feel happy you did it, although it was hard. Let's try hard together.