The energy industry has entered an age in which only the fittest companies that adapt to change will survive nowadays. The industry has had to fare with significant structural change, notably restructuring among domestic oil companies, while at the same time demand for energy, including petroleum products, has been shrinking due to the declining birthrate, aging population and steady adoption of energy-saving measures. Also, the industry is becoming increasingly competitive as the full-scale liberalization of the electricity and city gas retail markets has brought many new players into the market, including from other industries. Under the Paris Agreement, Japan is targeting a 26% reduction of greenhouse gas emissions in FY2030 compared to the level in FY2013. Measures to achieve a low-emission energy mix, such as introducing more renewable energy and the pursuit of further energy efficiency, are accelerating.
Our group, which has been moving forward as an energy trading company for more than half a century, has formulated a growth strategy, "Moving!" to create new value without being constrained by existing business models or preconceived ideas, and has been working to achieve its goals.