I would like to take this opportunity to thank you for your continued support for the Oji Group.
Since its founding in 1873, the Oji Group has continued to grow in step with numerous corporate mergers and the expansion of its fields of business. Today, the Group focuses on not only the paper manufacturing business but also businesses that integrate materials and conversion, such as the packaging and pulp businesses, the electric power generation business, including renewable energy, hydroelectric and biomass power generation, and green innovation for the future, such as the development of biomass plastics and cellulose nanofibers. As both the business environment and the Oji Group itself experience substantial change, we are striving to enhance our corporate value over the medium to long term based on our management philosophy comprising "Creation of Innovative Values," "Contribution to Future and the World" and "Harmony with Nature and Society.
Based on our Management Philosophy, we formulated a new Purpose, Long-term Vision for 2030 and FY2022-2024 Medium-Term Management Plan as policies for what the Oji Group should aim to become.
The Purpose is defined as "Grow and manage sustainable forests, develop and deliver the products from renewable forests, and Oji will bring this world a brighter future filled with hope." Product lines that utilize renewable forest resources can replace materials and products derived from fossil resources. In addition, forests have a number of public benefit functions, such as the absorption and fixation of CO₂ and biodiversity conservation. We believe that the Oji Group's Purpose is to operate its business by fully demonstrating its extremely unique characteristics and features in response to the proposition of environmental friendliness, including addressing global warming and preserving biodiversity
In the Long-term Vision, we aim to achieve the Environmental Action Program 2030 and consolidated net sales of 2.5 trillion yen or more through three basic policies of 1) Initiatives for Environmental Issues-Sustainability-, 2) Initiatives for Profitability Improvement-Profitability- and 3) Initiative for Product Development-Green Innovation, based on the Group's policy of Growth to Evolution.
To achieve this Long-term Vision, we have set goals to address during the three years in the FY2022-2024 Medium-term Management Plan.
We also recognize that climate change issues are an important management challenge, and in September 2020, established the Environmental Vision 2050 and the milestone Environmental Action Program 2030 to achieve the goal of net-zero carbon by 2050. In the Environmental Action Program 2030, we have set a goal of reducing greenhouse gas (GHG) emissions by 70% or more in FY2030 compared to the level in FY2018. Of the 70% reduction, we aim to achieve 20% by reducing GHG emissions from coal boilers, etc. and the remaining 50% by increasing the net absorption of CO₂ through expansion of afforestation areas, etc.
The Oji Group will continue to boldly take on challenges as a corporate group that develops and shares prosperity together with our stakeholders. We hope that our stakeholders will pay close attention, anticipate our future business development based on our new management strategies and continue to support us in our endeavors.
Representative Director of the Board,
President and Group CEO
Oji Holdings Corporation