JapaneseOur Challenge
Business environment surrounding our group
Despite the easing of COVID-19 restrictions and an increase in the normalization of economic activities, the global economy still faces uncertainties. For instance, semiconductor shortages and the ongoing situation in Ukraine have led to soaring energy and raw material prices. The Japanese economy also continues to face instability due to ongoing concerns about inflation and a weaker yen, even with the reclassification of COVID-19 under the Infectious Diseases Control Law and the easing of movement restrictions.
When examining the market environment under these circumstances, it is anticipated that domestic opportunities in the market, particularly in the public works sector, will continue to expand due to factors such as aging social infrastructure and the implementation of "The Five-Year Acceleration Plan for Disaster Prevention, Disaster Mitigation, and Building National Resilience" (hereinafter referred to as the National Resilience Plan). Furthermore, as the global interest in addressing climate change heightens, movements toward carbon neutrality, utilization of renewable energy, and the assurance of resource circulation and biodiversity are gaining momentum, which we expect will further advance the progress toward building a sustainable society. Being mindful of these aspects, an overview of the market environment for each of our Group's businesses is as follows-
Management policy and issues to be addressed.
In light of this current business environment, our Group established and has been implementing the medium-term management plan "OYO Advance 2023" from 2021 to the end of 2023.
Under "OYO Advance 2023," we are committed to not only nurturing and expanding the emerging markets and new technologies that were initiated and developed during the previous medium-term management plan "OYO Jump18" until the end of 2020, but also to ensuring their substantial growth as the next revenue-generating businesses within our Group. We are taking on the challenge of creating new value through processes that contribute to ESG management and the achievement of SDGs goals.
- The matters mentioned in the text regarding the future are based on the judgments of our Group as of the end of the current consolidated fiscal year.
