In 2023, under our medium- to long-term vision "Vision 2030," the Cosmo Energy Group adopted the slogan "To create energy that shapes the future, energy that sustains society, and new forms of value," and set out three pillars "Bolster the green electricity supply chain," "Expand next-generation energy," and "Strengthen competitiveness of our Oil Business and pursue low carbonization."
Under the 7th MTMP (FY2023-2025), we implemented a range of measures aimed at the sustainable enhancement of enterprise value with a view to achieving "Vision 2030." Ordinary profit and ROE, excluding the impact of inventory valuation, remained above target levels, and we achieved improvements in profitability and capital efficiency. Meanwhile, the business environment surrounding us has changed significantly over the past three years, and while maintaining the direction set out in "Vision 2030," we have updated our long-term vision to "Vision 2035." Under "Vision 2035," we will enhance enterprise value by "Integrating oil and next-generation energy initiatives," "Expanding resource development centered on oil exploration and production," "Restructuring our power generation mix to ensure a stable electricity supply," and "Taking on NeXT GROWTH area leveraging our technological capabilities."
In the 8th MTMP, which covers the first three years of "Vision 2035," we will adopt the slogan "Oil & New Go Beyond with Energy." and work to maximize profitability in existing businesses centered on oil, strengthen investment in growth areas, and bolstering our management structure through productivity improvement and the thorough utilization of AI and digital technologies. In terms of capital policy, we will continue the "three-pronged capital policy" set out in the 7th MTMP and maintain a balanced improvement in shareholder returns, financial health, and capital efficiency. Through these initiatives, we aim to achieve the sustainable enhancement of enterprise value and continue moving forward with "Go Beyond with Energy."