| In a continuing difficult business environment caused by soaring resource and oil prices,
the subprime housing loan crisis in the United States, and a rapid appreciation of yen
triggering financial uncertainty in Japan today, to overcome stagnant growth in internal
demand with global development, the Itochu Enex Group has announced a new Group
medium-term business plan "Core & Synergy2010 – To the next stage via the implementation
of reforms" (Three-year period plan from 2008 to 2010), as a growth strategy to step up to a
new stage in the medium- to long-term period.
In the three-year period starting from the present term, is positioned as a time frame to
solidify a course for future growth by restructuring the business platform of the Group through
the acquisition of new management resources, functions and business models. Furthermore,
by fostering Group unity, the Itochu Group endeavors to expand vertically in global development
to attain supplying capabilities, logistics and take advantages as a wholesaler, performing
regional strategies through horizontal development, strengthening core businesses and creating
synergies to double earnings.
The Itochu Enex Group believes its network of 2,200 car life stations, 1,600 LPG retail outlets and
2,500 corporate entrepreneurs located nationwide as a core platform of operation. Putting this
platform at the core of business and implementing the corporate philosophy "Partnering with
society and ordinary people in the energy field, in the car and in the home," structuring a new
emerging Itochu Enex Group, is the common vision in the medium-term business plan
"Core & Synergy 2010."
We will steadily look over business risks posed by spanning our business domain,
focus and press forward in financial strategies, IT strategies, CSR-compliance activities,
and the enhancing of our risk management system, to ensure sustainable corporate growth.
We assure our customers, shareholders, and partners that the Itochu Enex Group will live
up to future expectations. I look forward to your ever-more ongoing support and cooperation. |
