Since the establishment of Kobe Steel in 1905, the KOBELCO Group has worked with customers to create and provide products that meet their needs along with the development of society. At the time of its founding, Japan was embarking on a venture to build a full-fledged steelmaking industry. Our Company has been sincerely devoting our efforts to responding to customers' requirements and making superior products with craftsmanship. We believe our Group’s mission is to provide solutions to the needs of society and contribute to its development while boldly tackling a variety of challenges whenever the necessity arises. Our technology and tradition have been passed from one generation to another with the support of people who share our passion and belief.
Our Group’s business has grown in a wide range of fields while fulfilling the expectations of society. Today, we are engaged in multiple businesses, including the materials businesses which consists of steel, aluminum, advanced materials, and welding; the machinery businesses which consists of industrial machinery, engineering, and construction machinery; and the electric power business. Such diversity in business represents one of our unique advantages in the industry.
The business environment surrounding our Group is highly fluid due to the rapid changes in the overall industrial structure triggered by the COVID-19 pandemic, along with the inherent problems of the steel industry, which anticipates a decline in domestic demand. In addition, we are seeing a clear trend of social transformation to move toward achieving carbon neutrality with growing global demand for addressing climate change and other environmental issues. We consider this change as a new business opportunity for our Group to contribute to society by leveraging its strengths as a company engaged in multifaceted business operations with its diverse technologies and human resources.
In light of this situation, our Group has formulated a new 3-year KOBELCO Group Medium-Term Management Plan (FY2021−FY2023), giving top priorities to (1) Establishing a stable earnings base and (2) Taking on the challenge of realizing carbon neutrality. We will continue to respond to social demands and changes in the industrial structure while delivering improved solutions with a combination of technologies that contribute to solving social problems in an effort to become a corporate group indispensable to our customers and society. With this firm resolve, we will work to realize a world in which people, now and in the future, can fulfill their hopes and dreams while enjoying safe, secure, and prosperous lives.
In accordance with our Corporate Philosophy, we will steadily evolve into a group that contributes to society and is trusted by stakeholders, while fulfilling compliance and corporate social responsibility, and build the KOBELCO Group in which all employees can work with pride, sharing the same belief and passion.
President, CEO and Representative Director