Commitment of Top Management
I would like to extend my deepest condolences to the families of the people who have perished due to COVID-19. My heart goes out to those who are bravely fighting disease, and I pray for their early recovery. I also have profound respect for the people who are working around the clock to prevent the disease from spreading.
MITSUBISHI MOTORS applied the expertise it has cultivated through automobile development and manufacturing, as well as its production facilities, to the manufacture of face shields needed at healthcare facilities. We then donated these shields to the locations where they were needed. Going forward, we will continue to work with national and local governments in various countries around the world, as well as related institutions, to help prevent the spread of COVID-19.
In July 2020, we established the Flexible Working Styles Consideration Committee. The committee is tasked with creating flexible working styles that enable individual employees to maximize their potential, unfettered by time and location. We introduced remote working as a stopgap measure to help halt the spread of COVID-19. We are now looking at ways to adopt this approach on a more permanent basis, transitioning to a flexible working style that will balance work and an enhanced quality of life.
Sustainability Initiatives Focused on Contributing to All Stakeholders and Society
MITSUBISHI MOTORS’ sustainability initiatives are based on the Three Principles, a statement of the Mitsubishi Group’s management principles, our Corporate Vision, which sets out our vision for the society we want to create, and our Corporate Mission, which is a method to realize the vision.
The spirit of the Three Principles has continued to pulsate throughout the Company since their introduction 90 years ago. One of these principles, Shoki Hoko, expresses how we strive to enrich society through our business, both materially and spiritually, while contributing towards the preservation of the global environment.
Based on these principles, we strive to realize our Corporate Vision, to “Create a vibrant society by realizing the potential of mobility,” while deepening mutual understanding with diverse stakeholders through dialogue, and engaging in business activities in various countries and regions.
Regarding the efforts for our material issues (materiality) that we have identified from the fields of environment, society, and governance, the Sustainability Committee, which I chair, confirms the progress and derives results. By reporting the status of activities to the Board of Directors and applying the Board’s opinions to our sustainability initiatives, we are working to realize a sustainable society and enhance corporate value.
Leveraging Our Own Technologies to Help Preserve the Global Environment
In recent years, climate change, resource depletion, environmental pollution and other environmental problems have grown apparent and become more serious. Adoption of the international targets and rules to address social issues has accelerated. Those include the United Nations Sustainable Development Goals (SDGs), the Paris Agreement (an international accord on climate change), and the recommendations by the Task Force on Climate-related Financial Disclosures (TCFD).
MITSUBISHI MOTORS has recently formulated the “New Environmental Plan Package,” recognizing that it is necessary to set the direction of medium- to long-term efforts based on these social trends in order to keep the business alive.
This package contains a new “Environmental Policy” that incorporates a medium- to long-term outlook, the “Environmental Vision 2050” that defines the social image that we want to realize by 2050 and the direction of our efforts, the “Environmental Target 2030” that clarifies specific initiatives and milestones backcast from 2050 to 2030.
We consider action toward climate change to be a topmost material issue. In light of the goal to achieve net-zero CO2 emissions across society by 2050, we are considering a long-term outlook based on external scenarios and by running our own simulations. Taking these factors and our own business characteristics into account, by 2030 we aim to achieve a 40% reduction in CO2 emissions from new vehicles (compared with fiscal 2010 levels). We have also set the target of reducing CO2 emissions from our business activities by 40% (compared with fiscal 2014 levels).
Focusing on our strength, PHEVs, we will contribute toward the realization of a sustainable society, achieving a balance between the progress of humankind and the global environment, through the proliferation of electric vehicles and the promotion of their use in society.
Concentrating Our Management Resources on Products and Regions Where Strengths Lie to Contribute to Society through Activities Demonstrating MITSUBISHI MOTORS’ Character
As automotive industry is experiencing a major transition of the sort that occurs only once every 100 years. We will broadly pursue the potential of mobility and encourage individuals to take on new challenges, promote economic activities, and contribute to the revitalization of society by improving the efficiency and optimizing the movement of people. We are working daily to develop technologies and services that respond to increasingly diverse customer needs, providing all people with possible opportunities to go wherever they want at any time.
Under the new medium-term management plan “Small but Beautiful” from this fiscal year, we will concentrate management resources on products and regions where MITSUBISHI MOTORS has strengths.
In terms of products that showcase our strengths, we will enhance the distinctive environmental technologies used in the plug-in hybrid electric vehicles (PHEVs), electric vehicles (EVs) and hybrid electric vehicles (HEVs) we have developed, along with 4WD technologies, combining these with alliance partners’ technologies. As a result, we will provide environmentally friendly automobiles that contribute to a society in which people, automobiles and nature coexist harmoniously.
Furthermore, in regions where we have strengths, we will proactively work to resolve social issues in the regions and aim for sustainable growth together with local communities while drawing on the characteristics unique to MITSUBISHI MOTORS.
We have for many years directed efforts into spreading PHEVs, which can demonstrate their worth not only in terms of the environment but also in times of disaster or other emergencies, contributing to a sustainable society. We are promoting the “DENDO Community Support Program,” which aims to conclude disaster cooperation agreements with local governments throughout Japan by 2022 so that the PHEVs can be quickly delivered to disaster-stricken areas and evacuation shelters.
Looking ahead to the fulfillment of our Corporate Vision of creating a vibrant society by realizing the potential of mobility, we will contribute to the sustainable development of society by making every effort to tackle our material issues in each aspect of the environment, society, and governance.
Reinforcing Corporate Governance and Building a Sound Business Foundation
In June 2019, MITSUBISHI MOTORS made the transition to become a company with three committees. By separating the roles and functions of the directors who supervise management from those of the executive officers who are in charge of management execution, we have enhanced directors’ supervisory function over business execution, increased transparency and put in place a structure for executing operations swiftly in response to fast-paced changes in the operating environment. Under this new structure, we are building a sound business foundation for our future development, and we aim to be a company that is trusted by its stakeholders.
Member of the Board
Representative Executive Officer, CEO
MITSUBISHI MOTORS CORPORATION